DAVENPORT & Co LLC Has $6.42 Million Stock Position in American Electric Power Company, Inc. $AEP

DAVENPORT & Co LLC increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% during the second quarter, Holdings Channel.com reports. The fund owned 61,889 shares of the company’s stock after buying an additional 2,475 shares during the period. DAVENPORT & Co LLC’s holdings in American Electric Power were worth $6,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new position in shares of American Electric Power in the first quarter worth approximately $25,000. Bayforest Capital Ltd acquired a new position in shares of American Electric Power in the first quarter worth approximately $31,000. Missouri Trust & Investment Co acquired a new position in shares of American Electric Power in the second quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of American Electric Power in the first quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of American Electric Power in the first quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on AEP shares. UBS Group lifted their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a “sell” rating in a research note on Thursday, July 31st. Morgan Stanley dropped their price target on American Electric Power from $117.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Mizuho dropped their price target on American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Barclays boosted their price target on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $114.10.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $118.16 on Wednesday. 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 twelve month low of $89.91 and a twelve month high of $119.06. The stock’s 50 day moving average is $111.20 and its 200-day moving average is $106.86. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 3.06 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. American Electric Power’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. Sell-side analysts forecast 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 issued 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 3.1%. American Electric Power’s dividend payout ratio is 54.39%.

Insider Buying and Selling at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This trade represents a 10.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

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.