VIRGINIA RETIREMENT SYSTEMS ET Al Invests $8.08 Million in American Electric Power Company, Inc. $AEP

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 77,900 shares of the company’s stock, valued at approximately $8,083,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of American Electric Power by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock worth $5,711,519,000 after acquiring an additional 579,175 shares during the period. Wellington Management Group LLP lifted its holdings in American Electric Power by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after purchasing an additional 4,323,569 shares during the last quarter. GQG Partners LLC lifted its holdings in American Electric Power by 30.4% during the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after purchasing an additional 4,570,941 shares during the last quarter. Northern Trust Corp lifted its holdings in American Electric Power by 8.0% during the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock worth $572,332,000 after purchasing an additional 386,518 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in American Electric Power during the 1st quarter worth approximately $568,042,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $117.82 on Tuesday. The stock has a market capitalization of $63.01 billion, a PE ratio of 17.23, a P/E/G ratio of 3.10 and a beta of 0.48. 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 business has a fifty day moving average price of $111.98 and a two-hundred day moving average price of $107.59. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $120.46.

American Electric Power (NASDAQ:AEP) last announced 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction 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 transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the transaction, the director directly owned 40,898 shares of the company’s stock, valued at $4,443,567.70. This trade represents a 10.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,006 shares of company stock valued at $1,243,522 in the last three months. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley dropped their price target on American Electric Power from $117.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Raymond James Financial reissued an “outperform” rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. TD Cowen assumed coverage on American Electric Power in a report on Thursday, October 16th. They set a “buy” rating and a $133.00 price target for the company. Cowen assumed coverage on American Electric Power in a report on Wednesday, October 15th. They set a “buy” rating for the company. Finally, Scotiabank lifted their price target on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $119.26.

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.