OLD National Bancorp IN Takes $279,000 Position in American Electric Power Company, Inc. $AEP

OLD National Bancorp IN bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,688 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC purchased a new position in American Electric Power in the 1st quarter valued at $25,000. Bayforest Capital Ltd purchased a new position in American Electric Power in the 1st quarter valued at $31,000. Missouri Trust & Investment Co purchased a new position in American Electric Power in the 2nd quarter valued at $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in American Electric Power in the 1st quarter valued at $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AEP shares. Jefferies Financial Group decreased their price objective on American Electric Power from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, September 11th. LADENBURG THALM/SH SH reduced their price target on American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Mizuho reduced their price target on American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a report on Saturday, September 27th. Finally, Barclays lifted their price target on American Electric Power from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $114.10.

American Electric Power Stock Up 2.2%

Shares of NASDAQ:AEP opened at $118.16 on Wednesday. The business has a 50-day moving average price of $111.20 and a 200 day moving average price of $106.86. 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 company 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 Company, Inc. has a 12-month low of $89.91 and a 12-month high of $119.06.

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

American Electric Power Dividend Announcement

The firm also recently disclosed 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 54.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power 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 completion of the transaction, the executive vice president directly owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the transaction, the director directly owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents 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 currently owned by company insiders.

American Electric Power 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.