Frank Rimerman Advisors LLC Trims Holdings in American Electric Power Company, Inc. $AEP

Frank Rimerman Advisors LLC trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,923 shares of the company’s stock after selling 1,356 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Electric Power were worth $822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of American Electric Power by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock valued at $5,711,519,000 after buying an additional 579,175 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after acquiring an additional 4,323,569 shares during the last quarter. GQG Partners LLC lifted its stake in shares of American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after purchasing an additional 4,570,941 shares during the last quarter. Geode Capital Management LLC boosted its stake in American Electric Power by 2.2% during the second quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock worth $1,379,532,000 after buying an additional 285,000 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of American Electric Power by 8.0% during the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock worth $572,332,000 after purchasing an additional 386,518 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.2%

Shares of NASDAQ:AEP opened at $123.51 on Wednesday. The business has a 50 day moving average of $115.62 and a two-hundred day moving average of $109.73. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $124.80. The company has a market capitalization of $65.97 billion, a PE ratio of 18.00, a PEG ratio of 3.22 and a beta of 0.52. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP) last released its quarterly 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 for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

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

Insider Activity

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the business’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 transaction of $112,672.00. Following the completion of the sale, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $121.58, for a total transaction of $607,900.00. Following the sale, the director directly owned 30,898 shares of the company’s stock, valued at $3,756,578.84. The trade was a 13.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,006 shares of company stock worth $1,851,422. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of several research analyst reports. Citigroup upped their price objective on American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Mizuho lifted their price objective on shares of American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. UBS Group upped their price target on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Finally, Cowen initiated coverage on shares of American Electric Power in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.03.

About American Electric Power

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.