American Electric Power Company, Inc. $AEP Stake Decreased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 572,234 shares of the company’s stock after selling 21,579 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.11% of American Electric Power worth $67,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Community Trust & Investment Co. boosted its holdings in shares of American Electric Power by 1.7% in the 2nd quarter. Community Trust & Investment Co. now owns 4,730 shares of the company’s stock worth $647,000 after purchasing an additional 77 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in shares of American Electric Power by 1.3% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 6,263 shares of the company’s stock valued at $743,000 after buying an additional 80 shares in the last quarter. Hilton Head Capital Partners LLC raised its holdings in shares of American Electric Power by 3.9% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 2,121 shares of the company’s stock valued at $252,000 after buying an additional 80 shares in the last quarter. Midwest Capital Advisors LLC raised its holdings in shares of American Electric Power by 23.2% during the 3rd quarter. Midwest Capital Advisors LLC now owns 425 shares of the company’s stock valued at $50,000 after buying an additional 80 shares in the last quarter. Finally, Endeavor Private Wealth Inc. lifted its position in American Electric Power by 2.1% in the 3rd quarter. Endeavor Private Wealth Inc. now owns 3,940 shares of the company’s stock worth $468,000 after buying an additional 81 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Electric Power

In other American Electric Power news, CAO Kate Dixon sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the transaction, the chief accounting officer directly owned 15,856 shares in the company, valued at approximately $1,982,000. This represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

AEP has been the subject of several research reports. UBS Group set a $135.00 target price on American Electric Power in a research note on Monday, October 19th. Morgan Stanley lifted their price target on shares of American Electric Power from $128.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Truist Financial lowered their price objective on shares of American Electric Power from $146.00 to $139.00 and set a “buy” rating for the company in a report on Monday, August 17th. KeyCorp upgraded shares of American Electric Power from a “sector weight” rating to an “overweight” rating and set a $133.00 price objective for the company in a report on Monday, October 12th. Finally, Scotiabank cut their price objective on shares of American Electric Power from $140.00 to $131.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. Sixteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.83.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $128.91 on Friday. The firm has a market cap of $70.20 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. American Electric Power Company, Inc. has a 12-month low of $112.54 and a 12-month high of $140.58. The company has a quick ratio of 0.40, a current ratio of 0.51 and a debt-to-equity ratio of 1.46. The company’s fifty day simple moving average is $124.43 and its two-hundred day simple moving average is $128.40.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.04 by $0.19. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.55 billion. American Electric Power had a net margin of 14.21% and a return on equity of 10.52%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 6.44 EPS for the current year.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be given a $0.97 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from American Electric Power’s previous quarterly dividend of $0.95. American Electric Power’s dividend payout ratio is 62.68%.

About American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) is an electric utility holding company based in Columbus, Ohio. Through its regulated utility subsidiaries, it generates or purchases electricity and delivers power to residential, commercial and industrial customers. AEP’s operations include electric generation, transmission and distribution, with service territories across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.