Allstate Corp Purchases 20,490 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Allstate Corp more than doubled its stake in American Electric Power in the fourth quarter, buying 20,490 additional shares and bringing its total holdings to 40,294 shares worth about $4.65 million.
• American Electric Power reported strong quarterly results, with EPS of $1.64 topping estimates and revenue of $6.02 billion beating expectations; revenue also rose 10.2% year over year.
• The company continues to offer an attractive dividend, declaring a $0.95 quarterly payout for a 2.9% annual yield, while Wall Street maintains a Moderate Buy rating with an average price target of $141.24.

Allstate Corp increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 103.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,294 shares of the company's stock after purchasing an additional 20,490 shares during the quarter. Allstate Corp's holdings in American Electric Power were worth $4,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in American Electric Power by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company's stock worth $6,053,417,000 after purchasing an additional 828,588 shares during the last quarter. State Street Corp lifted its holdings in American Electric Power by 1.4% in the 3rd quarter. State Street Corp now owns 28,922,911 shares of the company's stock worth $3,253,827,000 after purchasing an additional 406,445 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings 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 worth $684,772,000 after purchasing an additional 1,285,279 shares during the last quarter. Victory Capital Management Inc. lifted its holdings 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 worth $595,243,000 after purchasing an additional 2,763,328 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in American Electric Power by 8.0% in the 3rd quarter. Alliancebernstein L.P. now owns 5,223,848 shares of the company's stock worth $587,683,000 after purchasing an additional 388,540 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $130.90 on Wednesday. The business has a fifty day simple moving average of $131.92 and a 200 day simple moving average of $125.17. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $71.22 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.62 and a beta of 0.56. American Electric Power Company, Inc. has a one year low of $100.72 and a one year high of $139.44.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.07. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.72 billion. American Electric Power had a return on equity of 10.21% and a net margin of 16.29%.American Electric Power's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 6.35 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, May 8th. American Electric Power's dividend payout ratio is currently 55.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen lowered American Electric Power from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Truist Financial assumed coverage on American Electric Power in a report on Tuesday, April 21st. They set a "buy" rating and a $148.00 price target for the company. Mizuho upped their price target on American Electric Power from $130.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Barclays upped their price target on American Electric Power from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Finally, Evercore upped their price target on American Electric Power from $137.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, American Electric Power currently has an average rating of "Moderate Buy" and an average price target of $141.24.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Phillip R. Ulrich sold 4,106 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $132.08, for a total transaction of $542,320.48. Following the completion of the transaction, the executive vice president directly owned 42,263 shares in the company, valued at $5,582,097.04. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by corporate insiders.

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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