Kanawha Capital Management LLC Grows Stock Holdings in American Electric Power Company, Inc. $AEP

Kanawha Capital Management LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 19.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,328 shares of the company’s stock after buying an additional 375 shares during the period. Kanawha Capital Management LLC’s holdings in American Electric Power were worth $242,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AEP. Nuveen LLC acquired a new position in shares of American Electric Power during the first quarter valued at about $568,042,000. GQG Partners LLC increased its holdings in shares of American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after acquiring an additional 4,323,569 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of American Electric Power by 4,567.3% during the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock valued at $192,827,000 after acquiring an additional 1,726,868 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in shares of American Electric Power during the first quarter valued at about $153,524,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the sale, the director owned 35,898 shares in the company, valued at approximately $4,218,732.96. This represents a 12.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,006 shares of company stock worth $1,243,522. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AEP shares. LADENBURG THALM/SH SH cut their price objective on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. BMO Capital Markets increased their price target on shares of American Electric Power from $121.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Scotiabank increased their price target on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $119.26.

American Electric Power Stock Performance

American Electric Power stock opened at $117.53 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. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $120.46. The stock’s 50 day simple moving average is $111.86 and its two-hundred day simple moving average is $107.51. The firm has a market cap of $62.85 billion, a PE ratio of 17.18, a P/E/G 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, topping 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 business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s quarterly 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. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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. This represents a $3.72 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 8th. American Electric Power’s dividend payout ratio is currently 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.