American Electric Power Company, Inc. $AEP Shares Acquired by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,943 shares of the company’s stock after acquiring an additional 1,467 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in American Electric Power were worth $1,135,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AEP. Venture Visionary Partners LLC raised its holdings in shares of American Electric Power by 7.3% during the 2nd 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 in the last quarter. SteelPeak Wealth LLC bought a new position in shares of American Electric Power during the second quarter worth about $7,722,000. Bryn Mawr Trust Advisors LLC bought a new position in American Electric Power in the second quarter valued at approximately $258,000. TrueMark Investments LLC boosted its position in American Electric Power by 8.6% during the second quarter. TrueMark Investments LLC now owns 50,975 shares of the company’s stock worth $5,289,000 after purchasing an additional 4,028 shares during the period. Finally, Huntington National Bank raised its position in shares of American Electric Power by 5.0% in the second quarter. Huntington National Bank now owns 1,106,134 shares of the company’s stock valued at $114,772,000 after buying an additional 52,287 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AEP shares. BTIG Research initiated coverage on American Electric Power in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. The Goldman Sachs Group boosted their target price on American Electric Power from $128.00 to $133.00 in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Scotiabank increased their target price on American Electric Power from $114.00 to $121.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Finally, UBS Group raised their price objective on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the completion of the sale, the director owned 35,898 shares in the company, valued at $4,218,732.96. This represents a 12.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,006 shares of company stock valued at $1,243,522 in the last quarter. 0.07% of the stock is currently owned by company insiders.

American Electric Power Trading Down 0.4%

NASDAQ AEP traded down $0.54 during trading on Thursday, reaching $122.14. 288,703 shares of the stock traded hands, compared to its average volume of 3,523,763. The firm has a market cap of $65.23 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The stock’s 50-day moving average price is $114.48 and its 200 day moving average price is $109.31. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $123.31.

American Electric Power (NASDAQ:AEP) last released its earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The company’s revenue was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $0.95 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is 55.39%.

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.