Carmel Capital Partners LLC Has $320,000 Stock Holdings in American Electric Power Company, Inc. $AEP

Carmel Capital Partners LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the company’s stock after selling 440 shares during the period. Carmel Capital Partners LLC’s holdings in American Electric Power were worth $320,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Chevy Chase Trust Holdings LLC boosted its stake in shares of American Electric Power by 4.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,044,695 shares of the company’s stock worth $108,398,000 after buying an additional 45,312 shares during the last quarter. Arista Wealth Management LLC acquired a new position in shares of American Electric Power during the 2nd quarter worth about $532,000. Private Trust Co. NA boosted its stake in shares of American Electric Power by 1.4% during the 2nd quarter. Private Trust Co. NA now owns 10,170 shares of the company’s stock worth $1,055,000 after buying an additional 141 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in shares of American Electric Power by 9.7% during the 2nd quarter. Angeles Wealth Management LLC now owns 2,725 shares of the company’s stock worth $283,000 after buying an additional 240 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its stake in shares of American Electric Power by 3.6% during the 2nd quarter. Oxbow Advisors LLC now owns 33,116 shares of the company’s stock worth $3,436,000 after buying an additional 1,149 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the completion of the sale, the director owned 35,898 shares of the company’s stock, valued at $4,218,732.96. This trade represents a 12.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,006 shares of company stock valued at $1,243,522 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

NASDAQ AEP opened at $117.53 on Friday. The firm has a 50-day moving average of $111.86 and a 200-day moving average of $107.51. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market cap of $62.85 billion, a PE ratio of 17.18, a P/E/G ratio of 3.10 and a beta of 0.48. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $120.46.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $0.93 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.2%. American Electric Power’s payout ratio is 54.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating and set a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH cut their price target on shares of American Electric Power from $112.00 to $108.50 and set a “neutral” rating for the company in a research note on Wednesday, September 10th. BMO Capital Markets increased their price target on shares of American Electric Power from $121.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barclays increased their price target on shares of American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $119.26.

American Electric Power Company Profile

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.