Verdence Capital Advisors LLC Raises Stake in American Electric Power Company, Inc. $AEP

Verdence Capital Advisors LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,973 shares of the company’s stock after purchasing an additional 114 shares during the period. Verdence Capital Advisors LLC’s holdings in American Electric Power were worth $1,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its stake in American Electric Power by 0.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 33,652 shares of the company’s stock worth $3,492,000 after buying an additional 230 shares in the last quarter. Concord Asset Management LLC VA purchased a new stake in American Electric Power in the second quarter worth approximately $333,000. Sequoia Financial Advisors LLC boosted its stake in American Electric Power by 9.9% in the second quarter. Sequoia Financial Advisors LLC now owns 101,932 shares of the company’s stock worth $10,577,000 after buying an additional 9,185 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in American Electric Power in the second quarter worth approximately $646,000. Finally, GW Henssler & Associates Ltd. boosted its stake in American Electric Power by 1.6% in the second quarter. GW Henssler & Associates Ltd. now owns 308,595 shares of the company’s stock worth $32,020,000 after buying an additional 4,906 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $116.80 on Tuesday. The stock has a fifty day moving average of $111.48 and a 200 day moving average of $107.23. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $119.06. The firm has a market capitalization of $62.46 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.09 and a beta of 0.48. 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 (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm 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. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on AEP shares. Jefferies Financial Group cut their target price on American Electric Power from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, September 11th. Scotiabank increased their price objective 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. Barclays increased their price objective on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Morgan Stanley dropped their price objective on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, October 8th. Seven equities research 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. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus price target of $114.50.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction on 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 sale, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the transaction, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. This trade represents a 15.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

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.