Equitable Trust Co. Cuts Stock Holdings in American Electric Power Company, Inc. $AEP

Equitable Trust Co. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,099 shares of the company’s stock after selling 145 shares during the period. Equitable Trust Co.’s holdings in American Electric Power were worth $1,567,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company’s stock worth $364,000 after purchasing an additional 430 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of American Electric Power during the first quarter worth about $262,000. Venture Visionary Partners LLC boosted its holdings in shares of American Electric Power by 7.3% during the second quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock worth $7,080,000 after purchasing an additional 4,616 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of American Electric Power during the second quarter worth about $7,722,000. Finally, Robertson Stephens Wealth Management LLC purchased a new stake in shares of American Electric Power during the first quarter worth about $205,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AEP shares. Mizuho dropped their target price on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. UBS Group increased their price target on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research note on Friday. Raymond James Financial restated an “outperform” rating and issued a $122.00 price objective (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. LADENBURG THALM/SH SH reduced their target price on American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Finally, Scotiabank raised their target price on American Electric Power from $102.00 to $114.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $114.90.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $118.38 on Wednesday. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $119.06. The company has a 50 day simple moving average of $111.58 and a two-hundred day simple moving average of $107.31. The company has a market capitalization of $63.31 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 3.09 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 (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is currently 54.39%.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s 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 completion of the transaction, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 11,006 shares of company stock valued at $1,243,522 in the last ninety days. Insiders own 0.07% of the company’s stock.

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.