Cape ANN Savings Bank Acquires 6,600 Shares of American Electric Power Company, Inc. $AEP

Cape ANN Savings Bank lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 245.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,292 shares of the company’s stock after buying an additional 6,600 shares during the quarter. Cape ANN Savings Bank’s holdings in American Electric Power were worth $964,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the first quarter worth about $25,000. Bank of New Hampshire purchased a new position in American Electric Power in the 1st quarter worth approximately $28,000. Bayforest Capital Ltd bought a new stake in American Electric Power in the first quarter valued at approximately $31,000. Missouri Trust & Investment Co purchased a new stake in shares of American Electric Power during the second quarter valued at approximately $31,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of American Electric Power in the first quarter worth approximately $33,000. 75.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction 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 directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the transaction, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a report on Saturday, September 27th. Barclays upped their price target on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Morgan Stanley dropped their price target on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Scotiabank boosted their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Finally, UBS Group raised their target price on shares of American Electric Power from $100.00 to $110.00 and gave the stock a “sell” rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $111.63.

American Electric Power Stock Up 0.5%

NASDAQ:AEP opened at $114.06 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The firm’s 50-day moving average price is $110.87 and its 200-day moving average price is $106.70. The company has a market capitalization of $61.00 billion, a PE ratio of 16.68, a P/E/G ratio of 3.00 and a beta of 0.48. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. American Electric Power’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.3%. American Electric Power’s dividend payout ratio is presently 54.39%.

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.