Eliot Finkel Investment Counsel LLC Reduces Holdings in American Electric Power Company, Inc. $AEP

Eliot Finkel Investment Counsel LLC lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,504 shares of the company’s stock after selling 860 shares during the period. American Electric Power makes up about 2.0% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 24th largest position. Eliot Finkel Investment Counsel LLC’s holdings in American Electric Power were worth $3,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter worth $25,000. Bank of New Hampshire bought a new position in shares of American Electric Power during the first quarter worth about $28,000. Bayforest Capital Ltd bought a new stake in shares of American Electric Power during the first quarter valued at about $31,000. Missouri Trust & Investment Co bought a new stake in shares of American Electric Power during the second quarter valued at about $31,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in American Electric Power in the first quarter worth about $33,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group raised their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a “sell” rating in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Jefferies Financial Group decreased their target price on American Electric Power from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a research note on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus price target of $111.63.

Insider Activity

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the transaction, the director owned 40,898 shares in the company, valued at $4,443,567.70. This represents a 10.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated 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 $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

American Electric Power Stock Up 0.5%

Shares of NASDAQ:AEP opened at $114.06 on Friday. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company’s fifty day moving average is $110.87 and its 200-day moving average 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 3.02 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last issued its earnings results 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 company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter 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. 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 Announces Dividend

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