American Electric Power Company, Inc. $AEP Shares Bought by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 52.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 851,281 shares of the company’s stock after acquiring an additional 291,506 shares during the period. American Electric Power accounts for approximately 1.6% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 18th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in American Electric Power were worth $95,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in American Electric Power by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 52,467,779 shares of the company’s stock valued at $5,444,057,000 after purchasing an additional 197,998 shares in the last quarter. State Street Corp lifted its holdings in shares of American Electric Power by 2.3% in the second quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after buying an additional 653,712 shares during the period. Geode Capital Management LLC boosted its stake in American Electric Power by 2.2% during the second quarter. Geode Capital Management LLC now owns 13,352,192 shares of the company’s stock valued at $1,379,532,000 after buying an additional 285,000 shares in the last quarter. Invesco Ltd. boosted its stake in American Electric Power by 5.9% during the second quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after buying an additional 432,441 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in American Electric Power by 5.9% during the second quarter. Legal & General Group Plc now owns 4,912,388 shares of the company’s stock worth $509,709,000 after acquiring an additional 272,214 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 2.0%

AEP stock opened at $115.93 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. The firm has a market capitalization of $61.92 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.77 and a beta of 0.63. American Electric Power Company, Inc. has a 52-week low of $92.67 and a 52-week high of $124.80. The company’s 50 day simple moving average is $118.20 and its 200-day simple moving average is $113.32.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (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%. American Electric Power’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $1.85 earnings per share. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS 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 dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 annualized dividend and a yield of 3.3%. American Electric Power’s payout ratio is presently 55.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AEP shares. Scotiabank upped their price target on shares of American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a report on Tuesday, December 16th. Cowen started coverage on shares of American Electric Power in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. UBS Group reduced their target price on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating for the company in a report on Wednesday, December 17th. JPMorgan Chase & Co. upped their price target on American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Morgan Stanley set a $120.00 price objective on American Electric Power in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.87.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $115.07, for a total transaction of $575,350.00. Following the transaction, the director owned 25,898 shares of the company’s stock, valued at $2,980,082.86. The trade was a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Company 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.