NovaPoint Capital LLC Invests $1.21 Million in American Electric Power Company, Inc. $AEP

NovaPoint Capital LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, Holdings Channel.com reports. The fund purchased 10,752 shares of the company’s stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its position in American Electric Power by 12.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after buying an additional 89 shares during the period. Gilbert & Cook Inc. lifted its position in shares of American Electric Power by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after acquiring an additional 91 shares during the period. Eagle Strategies LLC boosted its stake in shares of American Electric Power by 1.7% during the 2nd quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after acquiring an additional 94 shares in the last quarter. McIlrath & Eck LLC grew its holdings 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 worth $344,000 after acquiring an additional 99 shares during the period. Finally, Graves Light Lenhart Wealth Inc. increased 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 valued at $773,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $115.67 on Friday. The stock has a market capitalization of $61.78 billion, a P/E ratio of 16.86, a P/E/G ratio of 3.02 and a beta of 0.61. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $124.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. The firm’s 50-day moving average is $118.67 and its two-hundred day moving average is $112.57.

American Electric Power (NASDAQ:AEP) last posted 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). American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the firm earned $1.85 EPS. The business’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 analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. 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 payout ratio is 55.39%.

Insiders Place Their Bets

In related news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on 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 directly owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated 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 trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,006 shares of company stock valued at $1,883,522. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AEP shares. Citigroup boosted their target price on American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Barclays raised their price target on American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Scotiabank boosted their price objective on shares of American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 16th. Cowen initiated coverage on shares of American Electric Power in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, LADENBURG THALM/SH SH raised their target price on shares of American Electric Power from $108.50 to $124.50 and gave the company a “neutral” rating in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.87.

American Electric Power Profile

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.