Brookstone Capital Management Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Posted by Defense World Staff on Mar 20th, 2023

Brookstone Capital Management increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,505 shares of the company’s stock after buying an additional 1,882 shares during the period. Brookstone Capital Management’s holdings in American Electric Power were worth $2,172,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in American Electric Power in the first quarter valued at approximately $40,000. Westwood Holdings Group Inc. purchased a new position in American Electric Power in the first quarter valued at approximately $211,000. Cibc World Market Inc. increased its stake in American Electric Power by 13.1% in the first quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock valued at $3,074,000 after purchasing an additional 3,558 shares during the last quarter. Sei Investments Co. increased its stake in American Electric Power by 17.7% in the first quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock valued at $20,569,000 after purchasing an additional 30,836 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in American Electric Power by 1.6% in the first quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock valued at $3,643,000 after purchasing an additional 577 shares during the last quarter. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 1,004 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $90.39, for a total transaction of $90,751.56. Following the completion of the sale, the executive vice president now directly owns 11,717 shares of the company’s stock, valued at $1,059,099.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other American Electric Power news, EVP Greg B. Hall sold 884 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.99, for a total value of $80,435.16. Following the completion of the sale, the executive vice president now owns 7,331 shares of the company’s stock, valued at $667,047.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Matthew Feinberg sold 1,004 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $90.39, for a total value of $90,751.56. Following the completion of the sale, the executive vice president now directly owns 11,717 shares of the company’s stock, valued at approximately $1,059,099.63. The disclosure for this sale can be found here. Insiders sold a total of 63,897 shares of company stock valued at $5,723,900 over the last three months. 0.12% of the stock is currently owned by company insiders.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $90.70 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.56. The stock has a fifty day moving average price of $91.43 and a 200 day moving average price of $91.03. American Electric Power Company, Inc. has a 1-year low of $80.30 and a 1-year high of $105.60. The company has a market cap of $46.66 billion, a PE ratio of 20.11, a P/E/G ratio of 2.86 and a beta of 0.44.

American Electric Power (NASDAQ:AEP – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. American Electric Power had a return on equity of 10.75% and a net margin of 11.77%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the company earned $0.98 earnings per share. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.26 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, February 9th. American Electric Power’s dividend payout ratio is presently 73.61%.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent analyst reports. Cfra increased their price target on shares of American Electric Power from $93.00 to $96.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $108.00 to $99.00 in a report on Wednesday, February 1st. JPMorgan Chase & Co. decreased their price objective on American Electric Power from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Friday, March 10th. Morgan Stanley decreased their price objective on American Electric Power from $112.00 to $107.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on American Electric Power in a report on Friday. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.83.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.