Western Wealth Management LLC Buys 494 Shares of American Electric Power Company, Inc. $AEP

Western Wealth Management LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,310 shares of the company’s stock after purchasing an additional 494 shares during the quarter. Western Wealth Management LLC’s holdings in American Electric Power were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its holdings in American Electric Power by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after buying an additional 91 shares in the last quarter. Eagle Strategies LLC raised its holdings in shares of American Electric Power by 1.7% during the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after acquiring an additional 94 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of American Electric Power by 3.2% during the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock valued at $344,000 after acquiring an additional 99 shares during the last quarter. Advantage Trust Co grew its holdings in shares of American Electric Power by 57.1% in the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Finally, Taylor Financial Group Inc. increased its position in American Electric Power by 1.9% in the second quarter. Taylor Financial Group Inc. now owns 5,376 shares of the company’s stock worth $558,000 after purchasing an additional 100 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 2.0%

Shares of NASDAQ AEP opened at $123.72 on Tuesday. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $124.01. The firm has a 50-day simple moving average of $115.32 and a two-hundred day simple moving average of $109.62. The company has a market cap of $66.08 billion, a P/E ratio of 18.03, a PEG ratio of 3.22 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. American Electric Power’s dividend payout ratio is 55.39%.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $121.58, for a total transaction of $607,900.00. Following the completion of the sale, the director directly owned 30,898 shares of the company’s stock, valued at approximately $3,756,578.84. The trade was a 13.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction dated 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 directly owned 5,676 shares in the company, valued at $635,712. This represents a 15.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,006 shares of company stock valued at $1,851,422 over the last three months. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AEP. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Evercore ISI restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. BTIG Research initiated coverage on shares of American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. TD Cowen upgraded American Electric Power to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Cowen assumed coverage on American Electric Power in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.03.

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.