Aberdeen Group plc Has $38.23 Million Stock Position in American Electric Power Company, Inc. $AEP

Aberdeen Group plc raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the 2nd quarter, Holdings Channel reports. The firm owned 368,409 shares of the company’s stock after acquiring an additional 22,134 shares during the period. Aberdeen Group plc’s holdings in American Electric Power were worth $38,226,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of American Electric Power during the first quarter worth $568,042,000. GQG Partners LLC grew its stake in shares of American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after buying an additional 4,570,941 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after buying an additional 4,323,569 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of American Electric Power by 4,567.3% during the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock worth $192,827,000 after buying an additional 1,726,868 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of American Electric Power during the first quarter worth $153,524,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AEP shares. Scotiabank boosted their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. UBS Group boosted their target price on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research note on Friday. Morgan Stanley reduced their price objective on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, October 8th. Finally, Evercore ISI assumed coverage on shares of American Electric Power in a research note on Monday, October 6th. They issued an “outperform” rating and a $133.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $114.50.

American Electric Power Stock Performance

Shares of AEP opened at $117.04 on Monday. 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 stock has a market capitalization of $62.59 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 3.09 and a beta of 0.48. The firm’s fifty day simple moving average is $111.44 and its two-hundred day simple moving average is $107.16. 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 results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for 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%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s dividend payout ratio is 54.39%.

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.