Purkiss Capital Advisors LLC Grows Position in American Electric Power Company, Inc. $AEP

Purkiss Capital Advisors LLC grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 88.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,280 shares of the company’s stock after acquiring an additional 3,876 shares during the quarter. Purkiss Capital Advisors LLC’s holdings in American Electric Power were worth $859,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AEP. Advantage Trust Co raised its stake in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of American Electric Power in the first quarter valued at approximately $31,000. Missouri Trust & Investment Co acquired a new position in shares of American Electric Power in the second quarter valued at approximately $31,000. GoalVest Advisory LLC lifted its stake in shares of American Electric Power by 277.1% during the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock valued at $32,000 after buying an additional 230 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in American Electric Power during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AEP. TD Cowen assumed coverage on American Electric Power in a report on Thursday, October 16th. They issued a “buy” rating and a $133.00 price target for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. UBS Group upped their target price on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Barclays raised their price target on American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.79.

American Electric Power Price Performance

AEP stock opened at $116.39 on Tuesday. The company has a market cap of $62.24 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.06 and a beta of 0.48. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $112.43 and a two-hundred day moving average price of $108.11. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $120.46.

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

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s payout ratio is 54.39%.

Insider Buying and Selling at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were 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 directly owned 5,676 shares of the company’s stock, valued at approximately $635,712. This represents a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total value of $543,250.00. Following the completion of the sale, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. This represents a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,006 shares of company stock worth $1,243,522 in the last 90 days. Company insiders own 0.07% of the company’s stock.

American Electric Power 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.