Angeles Wealth Management LLC Raises Position in American Electric Power Company, Inc. $AEP

Angeles Wealth Management LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,725 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Angeles Wealth Management LLC’s holdings in American Electric Power were worth $283,000 as of its most recent SEC filing.

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

Insider Activity

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’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 transaction, the director directly 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 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 the firm’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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Insiders sold 11,006 shares of company stock worth $1,243,522 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday. 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 reduced their target price on American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. JPMorgan Chase & Co. lifted their target price on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $119.26.

American Electric Power Stock Performance

NASDAQ:AEP opened at $117.53 on Friday. The business’s 50-day moving average is $111.86 and its two-hundred day moving average is $107.51. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $120.46. The firm has a market capitalization of $62.85 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS 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 last year, the company posted $1.25 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

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

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.