American Electric Power Company, Inc. $AEP Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,980 shares of the company’s stock after purchasing an additional 4,242 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in American Electric Power were worth $25,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AEP. Brighton Jones LLC raised its holdings in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company’s stock valued at $2,150,000 after purchasing an additional 3,867 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of American Electric Power in the 1st quarter valued at $296,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of American Electric Power by 8.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 140,864 shares of the company’s stock valued at $15,392,000 after purchasing an additional 11,067 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of American Electric Power by 20.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 40,479 shares of the company’s stock valued at $4,423,000 after purchasing an additional 6,736 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, the director owned 40,898 shares of the company’s stock, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Scotiabank lifted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Cowen assumed coverage on shares of American Electric Power in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Raymond James Financial reiterated an “outperform” rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Finally, BTIG Research assumed coverage on shares of American Electric Power in a research note on Tuesday. They set a “neutral” rating on the stock. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $119.26.

American Electric Power Trading Down 0.3%

NASDAQ AEP opened at $117.43 on Wednesday. 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 firm has a market cap of $62.80 billion, a PE ratio of 17.17, a P/E/G ratio of 3.11 and a beta of 0.48. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $120.46. The firm’s fifty day moving average is $112.08 and its two-hundred day moving average is $107.66.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

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.