Amalgamated Bank Grows Position in American Electric Power Company, Inc. $AEP

Amalgamated Bank raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,574 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Amalgamated Bank’s holdings in American Electric Power were worth $10,954,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Venture Visionary Partners LLC raised its holdings in shares of American Electric Power by 7.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 68,233 shares of the company’s stock worth $7,080,000 after purchasing an additional 4,616 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of American Electric Power during the 2nd quarter valued at about $7,722,000. TrueMark Investments LLC lifted its position in American Electric Power by 8.6% during the 2nd quarter. TrueMark Investments LLC now owns 50,975 shares of the company’s stock worth $5,289,000 after acquiring an additional 4,028 shares in the last quarter. Vigilare Wealth Management acquired a new position in American Electric Power during the 2nd quarter worth approximately $556,000. Finally, Mainstay Capital Management LLC ADV lifted its position in American Electric Power by 103.7% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 31,338 shares of the company’s stock worth $3,252,000 after acquiring an additional 15,954 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $117.52, for a total value of $587,600.00. Following the completion of the sale, the director directly owned 35,898 shares in the company, valued at approximately $4,218,732.96. The trade was a 12.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $635,712. This trade represents a 15.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,006 shares of company stock valued at $1,243,522 over the last quarter. Company insiders own 0.07% of the company’s stock.

American Electric Power Price Performance

AEP stock opened at $121.89 on Friday. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $122.85. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $65.19 billion, a PE ratio of 17.77, a P/E/G ratio of 3.22 and a beta of 0.48. The stock’s 50 day moving average is $112.82 and its two-hundred day moving average is $108.41.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm posted $1.85 earnings per share. American Electric Power’s revenue was up 10.9% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a $0.95 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is presently 54.39%.

Analysts Set New Price Targets

Several research firms recently commented on AEP. LADENBURG THALM/SH SH reduced their price target on American Electric Power from $112.00 to $108.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. JPMorgan Chase & Co. boosted their price target on American Electric Power from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. UBS Group boosted their price target on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Barclays boosted their price target on American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Mizuho lifted their price objective on American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and an average target price of $122.44.

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.