American Electric Power Company, Inc. $AEP Shares Bought by Eastern Bank

Eastern Bank raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 386,961 shares of the company’s stock after acquiring an additional 15,869 shares during the period. Eastern Bank’s holdings in American Electric Power were worth $40,151,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 1st quarter worth $25,000. Bayforest Capital Ltd acquired a new stake in shares of American Electric Power in the 1st quarter worth $31,000. Missouri Trust & Investment Co acquired a new stake in shares of American Electric Power in the 2nd quarter worth $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the 1st quarter worth $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power in the 1st quarter worth $35,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AEP. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday. UBS Group increased their price target on shares of American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a report on Friday. Morgan Stanley cut their price target on shares of American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Scotiabank increased their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Finally, Evercore ISI began coverage on shares of American Electric Power in a report on Monday. They issued an “outperform” rating and a $133.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $114.50.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $117.04 on Friday. 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 stock has a market cap of $62.59 billion, a P/E ratio of 17.11, a PEG ratio of 3.09 and a beta of 0.48. The company has a 50-day moving average of $111.44 and a two-hundred day moving average of $107.13. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $119.06.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.93 per share. The ex-dividend date was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s payout ratio is presently 54.39%.

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.