Oppenheimer Asset Management Inc. Increases Holdings in American Electric Power Company, Inc. $AEP

Oppenheimer Asset Management Inc. raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 63.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,097 shares of the company’s stock after purchasing an additional 25,618 shares during the period. Oppenheimer Asset Management Inc.’s holdings in American Electric Power were worth $6,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Venture Visionary Partners LLC raised its position in American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock valued at $7,080,000 after purchasing an additional 4,616 shares during the period. SteelPeak Wealth LLC purchased a new stake in American Electric Power during the 2nd quarter valued at $7,722,000. TrueMark Investments LLC raised its holdings in American Electric Power by 8.6% during the 2nd quarter. TrueMark Investments LLC now owns 50,975 shares of the company’s stock valued at $5,289,000 after buying an additional 4,028 shares during the period. Vigilare Wealth Management purchased a new stake in shares of American Electric Power in the second quarter valued at $556,000. Finally, Hilltop National Bank purchased a new stake in shares of American Electric Power in the second quarter valued at $306,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the transaction, the executive vice president directly owned 5,676 shares of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director directly owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Trading Up 0.4%

AEP opened at $116.39 on Tuesday. The company has a market capitalization of $62.24 billion, a P/E ratio of 17.02, a PEG ratio of 3.06 and a beta of 0.48. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $120.46. The stock’s fifty day moving average is $112.43 and its two-hundred day moving average is $108.11.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.3%. American Electric Power’s dividend payout ratio is 54.39%.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of American Electric Power from $121.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Morgan Stanley increased their price target on American Electric Power from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Mizuho reduced their target price on American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.79.

American Electric Power Company 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.