Carnegie Investment Counsel Buys 2,598 Shares of American Electric Power Company, Inc. $AEP

Carnegie Investment Counsel grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,670 shares of the company’s stock after buying an additional 2,598 shares during the period. Carnegie Investment Counsel’s holdings in American Electric Power were worth $1,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEP. Advantage Trust Co increased its position in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Bayforest Capital Ltd bought a new position in shares of American Electric Power in the first quarter worth approximately $31,000. Missouri Trust & Investment Co bought a new position in shares of American Electric Power in the second quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of American Electric Power in the first quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power in the first quarter worth approximately $35,000. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AEP shares. JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Raymond James Financial restated an “outperform” rating and issued a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Mizuho decreased their price objective on shares of American Electric Power from $116.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Jefferies Financial Group upped their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research report on Thursday, October 16th. Finally, Evercore ISI assumed coverage on shares of American Electric Power in a research report on Monday, October 6th. They issued an “outperform” rating and a $133.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $119.74.

Insider Buying and Selling

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $117.52, for a total value of $587,600.00. Following the sale, the director directly owned 35,898 shares of the company’s stock, valued at approximately $4,218,732.96. This trade represents a 12.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,006 shares of company stock valued at $1,243,522. Insiders own 0.07% of the company’s stock.

American Electric Power Stock Down 0.2%

Shares of NASDAQ AEP opened at $115.98 on Friday. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $120.46. 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 simple moving average is $112.31 and its two-hundred day simple moving average is $107.97. The stock has a market capitalization of $62.02 billion, a P/E ratio of 16.96, a PEG ratio of 3.06 and a beta of 0.48.

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% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is currently 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.