Wesbanco Bank Inc. Reduces Position in American Electric Power Company, Inc. $AEP

Wesbanco Bank Inc. cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,236 shares of the company’s stock after selling 1,720 shares during the period. Wesbanco Bank Inc.’s holdings in American Electric Power were worth $7,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEP. Nuveen LLC bought a new stake in shares of American Electric Power during the first quarter valued at about $568,042,000. GQG Partners LLC increased its position in shares of American Electric Power by 30.4% during the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after buying an additional 4,570,941 shares during the period. Wellington Management Group LLP increased its position in shares of American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock valued at $2,415,144,000 after buying an additional 4,323,569 shares during the period. GAMMA Investing LLC increased its position in shares of American Electric Power by 13,499.5% during the first quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company’s stock valued at $234,954,000 after buying an additional 2,134,404 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of American Electric Power by 4,567.3% during the first quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock valued at $192,827,000 after buying an additional 1,726,868 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

American Electric Power Stock Up 0.7%

Shares of NASDAQ AEP opened at $109.46 on Friday. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36. 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 firm’s 50 day simple moving average is $110.03 and its two-hundred day simple moving average is $106.26. The stock has a market capitalization of $58.54 billion, a P/E ratio of 16.00, a PEG ratio of 2.88 and a beta of 0.46.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 54.39%.

Analysts Set New Price Targets

AEP has been the topic of several analyst reports. Barclays upped their price target on American Electric Power from $105.00 to $111.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. UBS Group upped their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a “sell” rating in a research report on Thursday, July 31st. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Scotiabank upped their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group decreased their price objective on shares of American Electric Power from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday. Five equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $111.93.

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.