Empirical Financial Services LLC d.b.a. Empirical Wealth Management Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP) (2024)

Posted by MarketBeat News on Jan 24th, 2024

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 17.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,531 shares of the company’s stock after selling 991 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in American Electric Power were worth $341,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FSC Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 222.0% during the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Fairfield Bush & CO. purchased a new stake in shares of American Electric Power during the second quarter worth about $26,000. Penserra Capital Management LLC purchased a new stake in shares of American Electric Power during the first quarter worth about $27,000. Pacifica Partners Inc. boosted its holdings in shares of American Electric Power by 2,343.8% during the third quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock worth $28,000 after purchasing an additional 375 shares during the period. Finally, True Wealth Design LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth about $28,000. 74.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AEP. Morgan Stanley increased their price target on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 21st. Mizuho downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Thursday, January 11th. Barclays increased their price target on shares of American Electric Power from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Sunday, November 12th. Finally, Guggenheim downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price for the company. in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.46.

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View Our Latest Report on American Electric Power

American Electric Power Trading Up 1.1 %

Shares of AEP stock opened at $78.11 on Wednesday. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $96.05. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $80.38 and its 200 day moving average is $79.53. The stock has a market capitalization of $41.08 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.90 and a beta of 0.50.

American Electric Power (NASDAQ:AEP – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.04. American Electric Power had a net margin of 11.72% and a return on equity of 10.73%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts expect that American Electric Power Company, Inc. will post 5.27 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 9th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, February 8th. American Electric Power’s dividend payout ratio is currently 80.73%.

About American Electric Power

(Free Report)

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

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I'm an experienced financial analyst and enthusiast, well-versed in the intricacies of investment strategies, market dynamics, and corporate financial management. My expertise stems from years of hands-on experience in analyzing financial data, tracking market trends, and evaluating the performance of various investment instruments.

Now, let's delve into the article posted by MarketBeat News on Jan 24th, 2024:

1. Empirical Financial Services LLC's Position Adjustment:

Empirical Financial Services LLC, also known as Empirical Wealth Management, decreased its holdings in American Electric Power Company, Inc. (NASDAQ: AEP) by 17.9% during the third quarter. The firm sold 991 shares, reducing its total ownership to 4,531 shares.

2. Institutional Investors Activity:

Other institutional investors also made adjustments to their holdings:
- FSC Wealth Advisors LLC increased its holdings by 222.0% in the third quarter.
- Fairfield Bush & CO. acquired a new stake during the second quarter.
- Penserra Capital Management LLC invested in AEP during the first quarter.
- Pacifica Partners Inc. significantly increased its holdings in the third quarter.
- True Wealth Design LLC purchased a new stake in the fourth quarter.
Overall, 74.68% of the stock is currently owned by hedge funds and institutional investors.

3. Wall Street Analyst Ratings:

Several research firms provided ratings on AEP:
- Morgan Stanley raised the price target from $93.00 to $95.00, giving the stock an "overweight" rating.
- Mizuho downgraded AEP to a "neutral" rating with a $83.00 price target.
- Barclays increased the price target to $84.00, maintaining an "overweight" rating.
- StockNews.com upgraded AEP from "sell" to "hold."
- Guggenheim downgraded AEP to "neutral" with a target price of $81.00.
MarketBeat reports an average rating of "Moderate Buy" with an average price target of $89.46.

4. Stock Performance and Financial Metrics:

AEP stock opened at $78.11, with a 12-month low of $69.38 and a high of $96.05.
The company has a current ratio of 0.60 and a quick ratio of 0.44.
AEP's 50-day moving average is $80.38, and its 200-day moving average is $79.53.
Market capitalization stands at $41.08 billion, with a P/E ratio of 17.92 and a P/E/G ratio of 2.90.
Beta is reported at 0.50.

5. Earnings and Dividend Information:

AEP reported $1.77 earnings per share for the last quarter, surpassing the consensus estimate of $1.73.
Net margin is 11.72%, and return on equity is 10.73%.
Quarterly revenue was $5.30 billion, slightly below analysts' expectations.
The company is expected to post 5.27 earnings per share for the current year.
A quarterly dividend of $0.88 is set to be paid on March 8th, with a yield of 4.51%.
The dividend payout ratio is 80.73%.

6. Business Segments:

American Electric Power operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

7. Additional Information:

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In summary, this article provides a comprehensive overview of Empirical Financial Services LLC's adjustments, institutional investor activity, Wall Street analyst ratings, stock performance, financial metrics, earnings and dividend information, business segments, and additional related insights on American Electric Power Company, Inc. (AEP).