Litman Gregory Wealth Management LLC Invests $939,000 in American Electric Power Company, Inc. $AEP

Litman Gregory Wealth Management LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,350 shares of the company’s stock, valued at approximately $939,000.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of American Electric Power by 12.7% in 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 in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after acquiring an additional 91 shares in the last quarter. Eagle Strategies LLC raised its position in shares of American Electric Power by 1.7% in the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after purchasing an additional 94 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of American Electric Power by 3.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock valued at $344,000 after purchasing an additional 99 shares during the last quarter. Finally, Graves Light Lenhart Wealth Inc. boosted its stake in American Electric Power by 1.5% in the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 6,870 shares of the company’s stock worth $773,000 after purchasing an additional 99 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Electric Power

In related news, EVP Kelly J. Ferneau sold 1,006 shares of American Electric Power stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the transaction, the executive vice president owned 5,676 shares in the company, valued at $635,712. The trade was a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director owned 25,898 shares in the company, valued at $2,980,082.86. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,006 shares of company stock valued at $1,883,522. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AEP shares. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Cowen began coverage on American Electric Power in a research report on Wednesday, October 15th. They set a “buy” rating for the company. TD Cowen raised American Electric Power to a “strong-buy” rating in a report on Thursday, October 30th. Siebert Williams Shank began coverage on 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, The Goldman Sachs Group upped their target price on American Electric Power from $128.00 to $133.00 in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.87.

American Electric Power Stock Up 0.3%

American Electric Power stock opened at $115.67 on Friday. The business’s 50-day moving average price is $118.67 and its 200 day moving average price is $112.49. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The firm has a market cap of $61.78 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.01 and a beta of 0.61. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $124.80.

American Electric Power (NASDAQ:AEP) last released 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). The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $0.95 dividend. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 dividend on an annualized basis and a yield of 3.3%. American Electric Power’s dividend payout ratio is presently 55.39%.

About American Electric Power

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.