Bleakley Financial Group LLC Purchases 1,454 Shares of American Electric Power Company, Inc. $AEP

Bleakley Financial Group LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.9% in the second quarter, HoldingsChannel reports. The fund owned 22,415 shares of the company’s stock after acquiring an additional 1,454 shares during the period. Bleakley Financial Group LLC’s holdings in American Electric Power were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Advantage Trust Co boosted its holdings in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Bayforest Capital Ltd bought a new stake in shares of American Electric Power in the first quarter valued at approximately $31,000. Missouri Trust & Investment Co bought a new stake in shares of American Electric Power in the second quarter valued at approximately $31,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the first quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power in the first quarter valued at approximately $35,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen assumed coverage on American Electric Power in a research note on Thursday, October 16th. They issued a “buy” rating and a $133.00 price target for the company. JPMorgan Chase & Co. boosted their price target on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Jefferies Financial Group boosted their price target on American Electric Power from $116.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, October 16th. The Goldman Sachs Group boosted their price target on American Electric Power from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, BMO Capital Markets boosted their price target on American Electric Power from $121.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $119.74.

Insider Buying and Selling at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the sale, the director directly owned 40,898 shares in the company, valued at $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock valued at $1,243,522 over the last quarter. Company insiders own 0.07% of the company’s stock.

American Electric Power Stock Down 0.2%

Shares of NASDAQ:AEP opened at $115.98 on Friday. The company has a fifty day moving average of $112.31 and a 200-day moving average of $107.92. The company has a market capitalization of $62.02 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 3.07 and a beta of 0.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $120.46.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. American Electric Power’s dividend payout ratio (DPR) is currently 54.39%.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.