McKinley Carter Wealth Services Inc. Grows Stake in American Electric Power Company, Inc. $AEP

McKinley Carter Wealth Services Inc. boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 40.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,248 shares of the company’s stock after purchasing an additional 1,810 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in American Electric Power were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at $25,000. Bayforest Capital Ltd purchased a new position in shares of American Electric Power in the 1st quarter valued at $31,000. Missouri Trust & Investment Co purchased a new position in shares of American Electric Power in the 2nd quarter valued at $31,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of American Electric Power in the 1st quarter valued at $33,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of American Electric Power in the 1st quarter valued at $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AEP shares. Morgan Stanley cut their price target on American Electric Power from $117.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a report on Wednesday. LADENBURG THALM/SH SH lowered their price objective on American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a research report on Wednesday, September 10th. Mizuho lowered their price objective on American Electric Power from $116.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Finally, Jefferies Financial Group lowered their price objective on American Electric Power from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.50.

American Electric Power Stock Up 0.1%

American Electric Power stock opened at $117.04 on Friday. 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 stock has a market capitalization of $62.59 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 3.09 and a beta of 0.48. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $119.06. The business has a fifty day moving average price of $111.44 and a 200-day moving average price of $107.13.

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

American Electric Power Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s payout ratio is currently 54.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power 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 sale, the executive vice president owned 5,676 shares of the company’s stock, valued at approximately $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director directly owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

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.