Rossby Financial LCC Sells 574 Shares of American Electric Power Company, Inc. $AEP

Rossby Financial LCC cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 46.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 655 shares of the company’s stock after selling 574 shares during the period. Rossby Financial LCC’s holdings in American Electric Power were worth $68,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advantage Trust Co boosted its stake in shares of American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd purchased a new position in shares of American Electric Power during the 1st quarter worth about $31,000. Missouri Trust & Investment Co purchased a new position in shares of American Electric Power during the 2nd quarter worth about $31,000. GoalVest Advisory LLC boosted its stake in shares of American Electric Power by 277.1% during the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after purchasing an additional 230 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of American Electric Power during the 1st quarter worth about $33,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 6.1%

NASDAQ:AEP opened at $122.11 on Thursday. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $122.79. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The firm has a market cap of $65.30 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.03 and a beta of 0.48. The firm has a 50-day simple moving average of $112.65 and a 200-day simple moving average of $108.31.

American Electric Power (NASDAQ:AEP) last posted 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 17.68% and a return on equity of 11.55%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The company’s revenue for the quarter 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. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The firm 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 $0.95 dividend. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a dividend 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 (DPR) is presently 54.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BTIG Research assumed coverage on shares of American Electric Power in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Mizuho lowered their price objective on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Wells Fargo & Company raised shares of American Electric Power to a “strong-buy” rating in a research report on Tuesday. TD Cowen initiated coverage on shares of American Electric Power in a research report on Thursday, October 16th. They issued a “buy” rating and a $133.00 price objective for the company. Finally, Evercore ISI initiated coverage on shares of American Electric Power in a research report on Monday, October 6th. They issued an “outperform” rating and a $133.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.79.

Insider Activity

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were 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 of the company’s stock, valued at approximately $4,218,732.96. This represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 11,006 shares of company stock valued at $1,243,522. Company insiders own 0.07% of the company’s stock.

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.