Oppenheimer Asset Management Inc. Raises Stock Position in American Electric Power Company, Inc. $AEP

Oppenheimer Asset Management Inc. lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 63.3% during the second quarter, Holdings Channel reports. The institutional investor owned 66,097 shares of the company’s stock after buying an additional 25,618 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in American Electric Power were worth $6,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Strategies LLC grew its holdings in American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after purchasing an additional 94 shares during the last quarter. McIlrath & Eck LLC grew its holdings in American Electric Power by 3.2% in the first quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares during the last quarter. Advantage Trust Co grew its stake in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Personal CFO Solutions LLC grew its stake in American Electric Power by 3.2% during the 1st quarter. Personal CFO Solutions LLC now owns 3,369 shares of the company’s stock worth $368,000 after buying an additional 103 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. grew its stake in American Electric Power by 1.8% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 5,898 shares of the company’s stock worth $612,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $116.39 on Tuesday. The business’s 50 day moving average price is $112.43 and its 200 day moving average price is $108.11. The firm has a market cap of $62.24 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.06 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 Company, Inc. has a 52 week low of $89.91 and a 52 week high of $120.46.

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 net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $0.95 dividend. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a yield of 3.3%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s payout ratio is currently 54.39%.

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 stock in a transaction on Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director directly owned 35,898 shares in the company, valued at $4,218,732.96. This trade represents a 12.23% decrease in their ownership of the stock. 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 research analysts recently weighed in on the company. BTIG Research assumed coverage on American Electric Power in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Cowen started coverage on American Electric Power in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. TD Cowen started coverage on shares of American Electric Power in a research report on Thursday, October 16th. They set a “buy” rating and a $133.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Finally, Wells Fargo & Company started coverage on shares of American Electric Power in a research report on Monday. They set an “overweight” rating and a $132.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.79.

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.