American Electric Power (NASDAQ:AEP) Sets New 52-Week High – Time to Buy?

American Electric Power Company, Inc. (NASDAQ:AEP) shares hit a new 52-week high on Monday . The stock traded as high as $123.14 and last traded at $122.3950, with a volume of 1042904 shares changing hands. The stock had previously closed at $121.43.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Jefferies Financial Group increased their price objective on shares of American Electric Power from $116.00 to $128.00 and gave the company a “hold” rating in a research report on Thursday, October 16th. Wells Fargo & Company increased their price target on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. UBS Group lifted their price objective on American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. increased their target price on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, American Electric Power has an average rating of “Moderate Buy” and an average price target of $124.50.

American Electric Power Price Performance

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 company has a market cap of $65.47 billion, a P/E ratio of 17.87, a P/E/G ratio of 3.22 and a beta of 0.52. The firm has a 50 day moving average of $113.74 and a 200-day moving average of $108.99.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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). American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The business also recently disclosed 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. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. American Electric Power’s payout ratio is currently 55.39%.

Insider Transactions at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction 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. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelly J. Ferneau sold 1,006 shares of the business’s stock in a transaction dated 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 owned 5,676 shares of the company’s stock, valued at approximately $635,712. This represents a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,006 shares of company stock valued at $1,243,522. 0.07% of the stock is owned by insiders.

Institutional Trading of American Electric Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in American Electric Power in the 3rd quarter worth approximately $26,000. Harbor Capital Advisors Inc. purchased a new position in shares of American Electric Power during the third quarter worth $26,000. Advantage Trust Co lifted its position in American Electric Power by 57.1% during the second 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 period. Montag A & Associates Inc. boosted its holdings in American Electric Power by 166.0% in the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of American Electric Power during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Company 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.