Sequoia Financial Advisors LLC Buys 4,978 Shares of American Electric Power Company, Inc. $AEP

Sequoia Financial Advisors LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.9% in the third quarter, HoldingsChannel.com reports. The fund owned 106,910 shares of the company’s stock after acquiring an additional 4,978 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American Electric Power were worth $12,027,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AEP. Soroban Capital Partners LP raised its stake in American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after purchasing an additional 2,555,415 shares in the last quarter. Amundi grew its stake in American Electric Power by 26.1% during the second quarter. Amundi now owns 3,694,659 shares of the company’s stock worth $381,510,000 after buying an additional 765,258 shares in the last quarter. State Street Corp increased its holdings in American Electric Power by 2.3% in the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after buying an additional 653,712 shares during the period. Invesco Ltd. raised its position in shares of American Electric Power by 5.9% in the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after buying an additional 432,441 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of American Electric Power by 22.8% during the 2nd quarter. National Pension Service now owns 1,894,580 shares of the company’s stock worth $196,582,000 after acquiring an additional 352,198 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.5%

Shares of AEP opened at $119.96 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a 52 week low of $96.80 and a 52 week high of $124.80. The stock has a market capitalization of $64.07 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.87 and a beta of 0.63. The stock has a fifty day moving average of $117.93 and a 200-day moving average of $114.10.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, October 29th. The company reported $1.80 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 firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. American Electric Power’s revenue for the quarter was up 10.9% compared to the same quarter last year. 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 fiscal year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a dividend of $0.95 per share. The ex-dividend date was Monday, November 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio is 55.39%.

Insiders Place Their Bets

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’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 completion of the transaction, the director directly owned 25,898 shares in the company, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of American Electric Power from a “hold” rating to a “buy” rating and lifted their price objective for the company from $128.00 to $137.00 in a research note on Monday, November 17th. Mizuho raised their target price on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. UBS Group dropped their price objective on American Electric Power from $114.00 to $107.00 and set a “sell” rating for the company in a research report on Wednesday, December 17th. Finally, Barclays raised their price objective on American Electric Power from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.13.

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.