Insider Selling: American Electric Power (NASDAQ:AEP) Director Sells 5,000 Shares of Stock

by · The Cerbat Gem

American Electric Power Company, Inc. (NASDAQ:AEPGet Free Report) Director Benjamin Fowke III sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

American Electric Power Price Performance

NASDAQ:AEP traded up $1.89 during mid-day trading on Monday, reaching $116.02. The stock had a trading volume of 1,600,387 shares, compared to its average volume of 3,512,470. The stock has a 50-day simple moving average of $119.14 and a two-hundred day simple moving average of $111.73. The stock has a market capitalization of $61.97 billion, a PE ratio of 16.91, a P/E/G ratio of 2.98 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $124.80.

American Electric Power (NASDAQ:AEPGet Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a 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 was Monday, November 10th. American Electric Power’s payout ratio is 55.39%.

Analysts Set New Price Targets

AEP has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on American Electric Power from $130.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Citigroup lifted their price target on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, October 31st. BTIG Research began coverage on shares of American Electric Power in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. UBS Group increased their price objective on shares of American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $132.00 to $139.00 in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.09.

Check Out Our Latest Analysis on AEP

Hedge Funds Weigh In On American Electric Power

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in shares of American Electric Power during the 3rd quarter valued at $26,000. Dogwood Wealth Management LLC grew its position in American Electric Power by 330.2% during the third quarter. Dogwood Wealth Management LLC now owns 228 shares of the company’s stock valued at $26,000 after buying an additional 175 shares during the period. Harbor Capital Advisors Inc. bought a new position in American Electric Power during the third quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in American Electric Power during the third quarter worth about $29,000. Finally, Advantage Trust Co raised its position in American Electric Power by 57.1% in the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Company Profile

(Get Free Report)

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.

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