Croban Increases Holdings in American Electric Power Company, Inc. $AEP

Croban boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,937 shares of the company’s stock after purchasing an additional 162 shares during the period. Croban’s holdings in American Electric Power were worth $1,031,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in American Electric Power by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock worth $5,711,519,000 after purchasing an additional 579,175 shares during the period. Wellington Management Group LLP increased its stake in 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 worth $2,415,144,000 after purchasing an additional 4,323,569 shares during the period. GQG Partners LLC increased its stake in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after purchasing an additional 4,570,941 shares during the period. Northern Trust Corp increased its stake in American Electric Power by 8.0% in 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. Finally, Nuveen LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $568,042,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.1%

NASDAQ AEP opened at $117.04 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $119.06. The firm has a market capitalization of $62.59 billion, a PE ratio of 17.11, a P/E/G ratio of 3.09 and a beta of 0.48. The stock’s 50 day moving average is $111.44 and its 200 day moving average is $107.13.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm’s revenue 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. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 annualized dividend and a dividend yield of 3.2%. American Electric Power’s payout ratio is currently 54.39%.

Insider Activity at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, the director directly owned 40,898 shares in the company, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the sale, the executive vice president owned 5,676 shares in the company, valued at $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AEP shares. Scotiabank lifted their price target on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. LADENBURG THALM/SH SH cut their price objective on American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Evercore ISI started coverage on American Electric Power in a research report on Monday. They issued an “outperform” rating and a $133.00 price objective on the stock. UBS Group lifted their price objective on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Jefferies Financial Group cut their price objective on American Electric Power from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $114.50.

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.