Cornerstone Advisors LLC Sells 500 Shares of American Electric Power Company, Inc. $AEP

Cornerstone Advisors LLC lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,300 shares of the company’s stock after selling 500 shares during the period. Cornerstone Advisors LLC’s holdings in American Electric Power were worth $1,069,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in AEP. Gilbert & Cook Inc. boosted its position in American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after purchasing an additional 91 shares during the period. Eagle Strategies LLC boosted its holdings in American Electric Power by 1.7% in the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after buying an additional 94 shares during the period. McIlrath & Eck LLC boosted its holdings in American Electric Power by 3.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after buying an additional 99 shares during the period. Advantage Trust Co grew its stake in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Finally, Taylor Financial Group Inc. raised its holdings in American Electric Power by 1.9% during the 2nd quarter. Taylor Financial Group Inc. now owns 5,376 shares of the company’s stock valued at $558,000 after acquiring an additional 100 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AEP. Wells Fargo & Company raised their price target on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. LADENBURG THALM/SH SH cut their target price on American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. UBS Group lifted their target price on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a report on Friday, October 10th. Mizuho increased their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Citigroup raised their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, American Electric Power has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

American Electric Power Stock Performance

Shares of AEP opened at $121.30 on Monday. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $123.31. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The company has a market cap of $64.79 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The stock has a 50-day moving average price of $115.00 and a 200-day moving average price of $109.51.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (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 company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. 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. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

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

Insiders Place Their Bets

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is owned by insiders.

American Electric Power 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.