CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Boosts Holdings in American Electric Power Company, Inc. $AEP

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 47.1% in the third quarter, HoldingsChannel reports. The firm owned 25,000 shares of the company’s stock after buying an additional 8,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in American Electric Power were worth $2,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC increased its position in shares of American Electric Power by 12.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after acquiring an additional 89 shares during the period. Gilbert & Cook Inc. grew its stake in American Electric Power by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after purchasing an additional 91 shares in the last quarter. Eagle Strategies LLC grew its stake in 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 purchasing an additional 94 shares in the last quarter. McIlrath & Eck LLC increased its holdings in American Electric Power by 3.2% during the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock worth $344,000 after purchasing an additional 99 shares during the period. Finally, Graves Light Lenhart Wealth Inc. raised its position in American Electric Power by 1.5% in the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 6,870 shares of the company’s stock valued at $773,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the subject of a number of analyst reports. Cowen started coverage on American Electric Power in a research report on Wednesday, October 15th. They set a “buy” rating for the company. BTIG Research started coverage on shares of American Electric Power in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. BMO Capital Markets set a $126.00 price objective on shares of American Electric Power in a research report on Thursday, October 30th. The Goldman Sachs Group raised their price objective on shares of American Electric Power from $128.00 to $133.00 in a report on Thursday, October 30th. Finally, Williams Trading set a $137.00 target price on shares of American Electric Power in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.87.

American Electric Power Stock Up 0.2%

American Electric Power stock opened at $115.99 on Wednesday. The company has a market capitalization of $61.95 billion, a P/E ratio of 16.91, a PEG ratio of 3.03 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $124.80. The stock has a 50-day simple moving average of $118.60 and a 200-day simple moving average of $112.82.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the business earned $1.85 EPS. 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. Equities research analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $0.95 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, November 10th. This represents a $3.80 annualized dividend and a yield of 3.3%. American Electric Power’s payout ratio is currently 55.39%.

Insiders Place Their Bets

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the sale, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,006 shares of company stock valued at $1,883,522. 0.07% of the stock is owned by company insiders.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.