American Electric Power Company, Inc. $AEP Position Increased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in American Electric Power by 2.2%, owning 300,918 shares valued at approximately $31.22 million after purchasing additional shares in the second quarter.
• American Electric Power reported a strong quarterly earnings result, with an EPS of $1.43, exceeding expectations of $1.27, alongside a revenue increase of 11.1% year-over-year, totaling $5.09 billion.
• The company declared a quarterly dividend of $0.93, representing a 3.2% dividend yield with a payout ratio of 54.39%.

TD Asset Management Inc increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,918 shares of the company's stock after purchasing an additional 6,338 shares during the period. TD Asset Management Inc owned 0.06% of American Electric Power worth $31,223,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in American Electric Power by 1.1% in the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock valued at $5,711,519,000 after buying an additional 579,175 shares during the last quarter. Wellington Management Group LLP lifted its position in American Electric Power by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company's stock valued at $2,415,144,000 after purchasing an additional 4,323,569 shares during the last quarter. GQG Partners LLC lifted its position in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after purchasing an additional 4,570,941 shares during the last quarter. Northern Trust Corp lifted its position in American Electric Power by 8.0% in the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company's stock valued at $572,332,000 after purchasing an additional 386,518 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of American Electric Power during the first quarter valued at approximately $568,042,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.8%

AEP opened at $117.53 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The stock's fifty day moving average is $111.76 and its 200-day moving average is $107.44. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $120.46. The company has a market capitalization of $62.85 billion, a PE ratio of 17.18, a P/E/G ratio of 3.13 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the previous year, the business earned $1.25 earnings per share. American Electric Power's revenue for the quarter was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.2%. American Electric Power's dividend payout ratio is currently 54.39%.

Insider Buying and Selling at American Electric Power

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $112.00, for a total transaction of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company's stock, valued at $635,712. The trade was a 15.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $108.65, for a total value of $543,250.00. Following the sale, the director owned 40,898 shares in the company, valued at approximately $4,443,567.70. The trade was a 10.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,006 shares of company stock worth $1,243,522 in the last ninety days. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AEP shares. Jefferies Financial Group lifted their price target on American Electric Power from $116.00 to $128.00 and gave the company a "hold" rating in a report on Thursday. BMO Capital Markets lifted their target price on American Electric Power from $121.00 to $127.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on American Electric Power from $115.00 to $121.00 and gave the company a "neutral" rating in a research note on Wednesday. Morgan Stanley cut their price objective on shares of American Electric Power from $117.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, Scotiabank lifted their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $119.26.

American Electric Power Company Profile

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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