Joseph Group Capital Management Purchases 2,753 Shares of American Electric Power Company, Inc. $AEP

Joseph Group Capital Management boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,560 shares of the company’s stock after purchasing an additional 2,753 shares during the period. Joseph Group Capital Management’s holdings in American Electric Power were worth $3,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of American Electric Power during the 1st quarter valued at $568,042,000. GQG Partners LLC increased its position in American Electric Power by 30.4% in the first quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock worth $2,145,130,000 after buying an additional 4,570,941 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of American Electric Power by 24.3% in the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after buying an additional 4,323,569 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of American Electric Power during the 1st quarter valued at approximately $153,524,000. Finally, Burkehill Global Management LP bought a new stake in American Electric Power during the 1st quarter worth approximately $120,197,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 35,898 shares of the company’s stock, valued at $4,218,732.96. The trade was a 12.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $112,672.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is owned by corporate insiders.

American Electric Power Trading Up 1.6%

Shares of NASDAQ AEP opened at $121.43 on Monday. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $122.85. 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 company has a market cap of $64.86 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 3.22 and a beta of 0.52. The business’s 50 day moving average price is $113.74 and its 200-day moving average price is $108.99.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.29%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share 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. Stockholders of record on Monday, November 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. 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. American Electric Power’s dividend payout ratio is presently 55.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AEP. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. UBS Group lifted their target price on American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Citigroup increased their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Scotiabank boosted their target price on shares of American Electric Power from $114.00 to $121.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Finally, BMO Capital Markets set a $126.00 price objective on shares of American Electric Power in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

American Electric Power 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.