277,787 Shares in American Electric Power Company, Inc. $AEP Purchased by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management opened a new position in American Electric Power, buying 277,787 shares worth about $32.0 million. The stake represents roughly 2.0% of the fund’s portfolio and about 0.05% of AEP.
• AEP continues to attract large institutional interest, with several hedge funds significantly increasing their holdings. Overall, about 75.24% of the stock is owned by hedge funds and other institutional investors.
• The company reported solid quarterly results, beating earnings and revenue estimates, and it recently paid a $0.95 quarterly dividend for a 2.9% annualized yield. Analysts currently rate the stock Moderate Buy with a consensus target price of $141.10.

HITE Hedge Asset Management LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 277,787 shares of the company's stock, valued at approximately $32,032,000. American Electric Power accounts for approximately 2.0% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 12th largest holding. HITE Hedge Asset Management LLC owned approximately 0.05% of American Electric Power at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AEP. Victory Capital Management Inc. boosted its position in American Electric Power by 105.6% in the 3rd quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company's stock valued at $595,243,000 after buying an additional 2,763,328 shares during the period. Soroban Capital Partners LP boosted its position in American Electric Power by 176.3% in the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company's stock valued at $415,526,000 after buying an additional 2,555,415 shares during the period. Assenagon Asset Management S.A. boosted its position in American Electric Power by 357.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company's stock valued at $225,718,000 after buying an additional 1,529,662 shares during the period. AQR Capital Management LLC boosted its position in American Electric Power by 118.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company's stock valued at $286,692,000 after buying an additional 1,400,547 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in American Electric Power by 26.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,084,813 shares of the company's stock valued at $684,772,000 after buying an additional 1,285,279 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AEP shares. Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research report on Monday, June 1st. Morgan Stanley lowered their price objective on shares of American Electric Power from $136.00 to $129.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. Barclays boosted their price objective on shares of American Electric Power from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. BMO Capital Markets lowered their price objective on shares of American Electric Power from $141.00 to $138.00 and set a "market perform" rating for the company in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American Electric Power from $141.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has an average rating of "Moderate Buy" and a consensus target price of $141.10.

American Electric Power Price Performance

Shares of AEP opened at $129.23 on Friday. The company has a 50 day moving average price of $131.28 and a 200-day moving average price of $125.67. American Electric Power Company, Inc. has a fifty-two week low of $100.72 and a fifty-two week high of $139.44. The stock has a market capitalization of $70.31 billion, a PE ratio of 18.98, a PEG ratio of 2.56 and a beta of 0.53. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.53.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.07. American Electric Power had a net margin of 16.29% and a return on equity of 10.21%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The company's revenue was up 10.2% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 6.35 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power's dividend payout ratio is presently 55.80%.

About American Electric Power

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.

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