Princeton Global Asset Management LLC Buys 180 Shares of American Electric Power Company, Inc. $AEP

Princeton Global Asset Management LLC grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,437 shares of the company’s stock after acquiring an additional 180 shares during the quarter. Princeton Global Asset Management LLC’s holdings in American Electric Power were worth $149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at about $25,000. Bayforest Capital Ltd bought a new stake in American Electric Power during the 1st quarter worth approximately $31,000. Missouri Trust & Investment Co bought a new stake in American Electric Power during the 2nd quarter worth approximately $31,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in American Electric Power during the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new stake in American Electric Power during the 1st quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their target price on American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday. LADENBURG THALM/SH SH lowered their target price on American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. Raymond James Financial reissued an “outperform” rating and set a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Morgan Stanley lowered their target price on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $119.26.

American Electric Power Trading Up 0.2%

NASDAQ:AEP opened at $117.82 on Tuesday. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $120.46. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average price of $111.98 and a two-hundred day moving average price of $107.59. The company has a market cap of $63.01 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 3.10 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its quarterly 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. 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 business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. 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.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the sale, the director owned 35,898 shares of the company’s stock, valued at approximately $4,218,732.96. This represents a 12.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the 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 sale, the executive vice president directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,006 shares of company stock valued at $1,243,522. 0.07% of the stock is currently owned by insiders.

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.