American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Foundations Investment Advisors LLC

Posted by Defense World Staff on Mar 21st, 2023

Foundations Investment Advisors LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,205 shares of the company’s stock after acquiring an additional 474 shares during the period. Foundations Investment Advisors LLC’s holdings in American Electric Power were worth $399,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in American Electric Power during the first quarter valued at $40,000. Westwood Holdings Group Inc. bought a new stake in American Electric Power during the first quarter valued at $211,000. Cibc World Market Inc. increased its stake in American Electric Power by 13.1% during 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% during 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% during 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 owned by institutional investors and hedge funds.

American Electric Power Stock Performance

AEP stock opened at $91.76 on Tuesday. The company has a market capitalization of $47.20 billion, a P/E ratio of 20.35, a PEG ratio of 2.82 and a beta of 0.44. The company has a 50-day simple moving average of $91.32 and a 200 day simple moving average of $90.99. American Electric Power Company, Inc. has a fifty-two week low of $80.30 and a fifty-two week high of $105.60. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.39.

American Electric Power (NASDAQ:AEP – Get Rating) last posted its quarterly earnings data 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. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a net margin of 11.77% and a return on equity of 10.75%. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.26 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 10th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, February 9th. American Electric Power’s payout ratio is 73.61%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 1,004 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Electric Power news, insider Nicholas K. Akins sold 51,034 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $89.44, for a total transaction of $4,564,480.96. Following the completion of the sale, the insider now directly owns 143,547 shares of the company’s stock, valued at $12,838,843.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Matthew Feinberg sold 1,004 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $90.39, for a total transaction of $90,751.56. Following the sale, the executive vice president now directly owns 11,717 shares of the company’s stock, valued at $1,059,099.63. The disclosure for this sale can be found here. In the last three months, insiders sold 63,897 shares of company stock valued at $5,723,900. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of American Electric Power from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, December 16th. Cfra upped their price target on shares of American Electric Power from $93.00 to $96.00 and gave the stock a “hold” rating in a research report on Friday, February 24th. JPMorgan Chase & Co. lowered their price target on shares of American Electric Power from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Friday, March 10th. Bank of America lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $101.00 to $98.00 in a research report on Monday, December 19th. Finally, Wells Fargo & Company lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $108.00 to $99.00 in a research report on Wednesday, February 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and an average price target 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.