Elyxium Wealth LLC Acquires 1,818 Shares of American Electric Power Company, Inc. $AEP

Elyxium Wealth LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 80.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,068 shares of the company’s stock after purchasing an additional 1,818 shares during the period. Elyxium Wealth LLC’s holdings in American Electric Power were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Code Waechter LLC raised its stake in shares of American Electric Power by 49.3% during the 2nd quarter. Code Waechter LLC now owns 4,599 shares of the company’s stock worth $477,000 after purchasing an additional 1,518 shares during the period. Huntington National Bank raised its stake in American Electric Power by 5.0% in the 2nd quarter. Huntington National Bank now owns 1,106,134 shares of the company’s stock valued at $114,772,000 after acquiring an additional 52,287 shares during the period. Marion Wealth Management raised its stake in American Electric Power by 8.8% in the 2nd quarter. Marion Wealth Management now owns 9,778 shares of the company’s stock valued at $1,015,000 after acquiring an additional 789 shares during the period. Bridgewater Advisors Inc. raised its stake in American Electric Power by 5.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 6,140 shares of the company’s stock valued at $671,000 after acquiring an additional 328 shares during the period. Finally, Wellington Shields Capital Management LLC raised its stake in American Electric Power by 17.5% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 1,680 shares of the company’s stock valued at $174,000 after acquiring an additional 250 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho boosted their price objective on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. Citigroup lifted their target price on American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday. Finally, Scotiabank lifted their target price on American Electric Power from $114.00 to $121.00 and gave the company a “sector perform” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Insider Activity at American Electric Power

In other American Electric Power news, 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 of the company’s stock, valued at $4,218,732.96. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the executive vice president directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. This represents a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,006 shares of company stock valued at $1,243,522. 0.07% of the stock is owned by insiders.

American Electric Power Stock Down 0.3%

Shares of NASDAQ AEP opened at $119.92 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $122.85. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 3.22 and a beta of 0.48. The business has a 50-day moving average of $113.09 and a 200-day moving average of $108.62.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm posted $1.85 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is currently 55.39%.

American Electric Power Company 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.