Elyxium Wealth LLC Grows Position in American Electric Power Company, Inc. $AEP

Elyxium Wealth LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 80.8% in the second quarter, HoldingsChannel.com reports. The firm owned 4,068 shares of the company’s stock after buying an additional 1,818 shares during the quarter. Elyxium Wealth LLC’s holdings in American Electric Power were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Code Waechter LLC boosted its stake in shares of American Electric Power by 49.3% during the second quarter. Code Waechter LLC now owns 4,599 shares of the company’s stock valued at $477,000 after purchasing an additional 1,518 shares during the period. Huntington National Bank increased its stake in shares of American Electric Power by 5.0% during the second quarter. Huntington National Bank now owns 1,106,134 shares of the company’s stock valued at $114,772,000 after buying an additional 52,287 shares during the period. Marion Wealth Management grew its stake in American Electric Power by 8.8% in the second quarter. Marion Wealth Management now owns 9,778 shares of the company’s stock worth $1,015,000 after purchasing an additional 789 shares during the period. Bridgewater Advisors Inc. grew its stake in American Electric Power by 5.6% in the second quarter. Bridgewater Advisors Inc. now owns 6,140 shares of the company’s stock worth $671,000 after purchasing an additional 328 shares during the period. Finally, Wellington Shields Capital Management LLC grew its stake in American Electric Power by 17.5% in the second quarter. Wellington Shields Capital Management LLC now owns 1,680 shares of the company’s stock worth $174,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AEP shares. Cowen started coverage on American Electric Power in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. BTIG Research began coverage on American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Scotiabank raised their price objective on American Electric Power from $114.00 to $121.00 and gave the stock a “sector perform” rating in a research note on Thursday. Morgan Stanley raised their price objective on American Electric Power from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group raised their price objective on American Electric Power from $116.00 to $128.00 and gave the stock a “hold” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 5,676 shares in the company, valued at $635,712. This trade represents a 15.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 40,898 shares of the company’s stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,006 shares of company stock valued at $1,243,522 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

American Electric Power Stock Performance

NASDAQ:AEP opened at $119.92 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $122.85. The stock has a 50-day moving average price of $113.09 and a 200 day moving average price of $108.62. The stock has a market capitalization of $64.19 billion, a P/E ratio of 17.48, a P/E/G ratio of 3.22 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last released its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS 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. Shareholders of record on Monday, November 10th will be issued a dividend of $0.95 per share. The ex-dividend date is Monday, November 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

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.