Envestnet Asset Management Inc. Purchases 144,713 Shares of American Electric Power Company, Inc. $AEP

Envestnet Asset Management Inc. grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,374,724 shares of the company’s stock after buying an additional 144,713 shares during the period. Envestnet Asset Management Inc. owned approximately 0.63% of American Electric Power worth $350,161,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AEP. Advantage Trust Co increased its position in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Bayforest Capital Ltd bought a new position in American Electric Power during the 1st quarter worth $31,000. Missouri Trust & Investment Co bought a new position in American Electric Power during the 2nd quarter worth $31,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power during the 1st quarter worth $33,000. Finally, IMA Advisory Services Inc. bought a new position in American Electric Power during the 1st quarter worth $35,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of analyst reports. UBS Group boosted their price target on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. TD Cowen started coverage on shares of American Electric Power in a report on Thursday, October 16th. They issued a “buy” rating and a $133.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, LADENBURG THALM/SH SH decreased their target price on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a report on Wednesday, September 10th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.74.

Insider Buying and Selling

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This trade represents a 10.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,006 shares of company stock valued at $1,243,522. 0.07% of the stock is owned by company insiders.

American Electric Power Stock Performance

NASDAQ:AEP opened at $115.98 on Monday. The stock’s 50-day simple moving average is $112.31 and its 200 day simple moving average is $108.01. The firm has a market capitalization of $62.02 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 3.06 and a beta of 0.48. 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 $120.46.

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

American Electric Power Increases Dividend

The company 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 $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is currently 54.39%.

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.