Hodges Capital Management Inc. Sells 2,579 Shares of American Electric Power Company, Inc. $AEP

Hodges Capital Management Inc. lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,649 shares of the company’s stock after selling 2,579 shares during the quarter. Hodges Capital Management Inc.’s holdings in American Electric Power were worth $1,520,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 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 last quarter. Bayforest Capital Ltd purchased a new stake in shares of American Electric Power during the 1st quarter valued at $31,000. Missouri Trust & Investment Co bought a new stake in shares of American Electric Power during the 2nd quarter worth $31,000. GoalVest Advisory LLC grew its position in American Electric Power by 277.1% in the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after acquiring an additional 230 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power in the first quarter valued at $33,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AEP has been the subject of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. BTIG Research started coverage on American Electric Power in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. The Goldman Sachs Group upped their price target on American Electric Power from $128.00 to $133.00 in a research report on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Finally, Citigroup boosted their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

Insider Activity

In other news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’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 owned 35,898 shares in the company, valued at $4,218,732.96. The trade was a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,006 shares of company stock worth $1,243,522 in the last three months. 0.07% of the stock is currently owned by insiders.

American Electric Power Trading Up 1.6%

NASDAQ AEP opened at $121.43 on Monday. The firm has a market capitalization of $64.86 billion, a PE ratio of 17.70, a P/E/G ratio of 3.22 and a beta of 0.52. The stock’s 50 day moving average is $113.74 and its 200 day moving average is $108.99. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month 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.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 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 firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the business posted $1.85 EPS. The business’s quarterly 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. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $0.95 per share. This is an increase 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 dividend on an annualized basis and a yield of 3.1%. American Electric Power’s dividend payout ratio 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.