QRG Capital Management Inc. Cuts Stake in American Electric Power Company, Inc. $AEP

by · The Markets Daily

QRG Capital Management Inc. lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,300 shares of the company’s stock after selling 32,848 shares during the quarter. QRG Capital Management Inc.’s holdings in American Electric Power were worth $12,859,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its stake in shares of American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after purchasing an additional 89 shares during the last quarter. Gilbert & Cook Inc. increased its position in American Electric Power by 2.3% in the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after buying an additional 91 shares during the last quarter. Eagle Strategies LLC raised its stake in shares of American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after buying an additional 94 shares during the period. Graves Light Lenhart Wealth Inc. lifted its position in shares of American Electric Power by 1.5% during the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 6,870 shares of the company’s stock valued at $773,000 after buying an additional 99 shares during the last quarter. Finally, Advantage Trust Co grew its stake in shares of American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director directly owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

American Electric Power Stock Up 0.5%

AEP opened at $119.96 on Friday. The firm has a market capitalization of $64.07 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.63. American Electric Power Company, Inc. has a one year low of $96.80 and a one year high of $124.80. The company has a fifty day moving average price of $117.93 and a 200-day moving average price of $114.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53.

American Electric Power (NASDAQ:AEP – Get Free Report) last posted 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 11.00%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business posted $1.85 EPS. American Electric Power’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. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.2%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, November 10th. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research reports. Jefferies Financial Group upgraded American Electric Power from a “hold” rating to a “buy” rating and boosted their price objective for the company from $128.00 to $137.00 in a research note on Monday, November 17th. TD Cowen raised shares of American Electric Power to a “strong-buy” rating in a research report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Siebert Williams Shank began coverage on shares of American Electric Power in a research note on Thursday, December 18th. They issued a “buy” rating and a $137.00 price objective for the company. Finally, BTIG Research began coverage on shares of American Electric Power in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.13.

Get Our Latest Stock Analysis on AEP

American Electric Power Profile

(Free Report)

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.

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