Pinnacle Financial Partners Inc Acquires 17,018 Shares of American Electric Power Company, Inc. $AEP

Pinnacle Financial Partners Inc increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.6% during the third quarter, HoldingsChannel reports. The fund owned 119,284 shares of the company’s stock after acquiring an additional 17,018 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in American Electric Power were worth $13,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in American Electric Power in the 3rd quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in shares of American Electric Power in the third quarter valued at about $26,000. Advantage Trust Co lifted its stake in shares of American Electric Power by 57.1% in the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Montag A & Associates Inc. grew its position in American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock worth $29,000 after buying an additional 176 shares in the last quarter. Finally, Missouri Trust & Investment Co bought a new position in American Electric Power during the second quarter valued at about $31,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.5%

Shares of NASDAQ:AEP opened at $119.96 on Friday. The company’s fifty day moving average is $117.93 and its 200-day moving average is $113.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a 52 week low of $96.80 and a 52 week high of $124.80. The company has a market capitalization of $64.07 billion, a PE ratio of 17.49, a P/E/G ratio of 2.85 and a beta of 0.63.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business earned $1.85 EPS. The company’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. Equities research analysts predict 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 was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, November 10th. American Electric Power’s dividend payout ratio is presently 55.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Williams Trading set a $137.00 price objective on American Electric Power in a research report on Thursday, December 18th. Morgan Stanley set a $120.00 target price on American Electric Power in a research report on Tuesday, December 16th. Mizuho boosted their price target on shares of American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Finally, Barclays lifted their target price on shares of American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director directly owned 25,898 shares in the company, valued at $2,980,082.86. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.