American Electric Power Company, Inc. $AEP Position Reduced by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments trimmed its AEP stake by 2.7% in the first quarter, but still held 4.49 million shares worth about $591.6 million, making AEP its 9th-largest holding.
• AEP reported strong quarterly results, with EPS of $1.64 and revenue of $6.02 billion, both beating analyst expectations; revenue also rose 10.2% year over year.
• The company paid a quarterly dividend of $0.95 per share and offers an annualized yield of about 2.9%, while analysts currently rate the stock a “Moderate Buy” with an average target price of $141.48.

Allspring Global Investments Holdings LLC decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,492,979 shares of the company's stock after selling 123,110 shares during the period. American Electric Power comprises approximately 1.0% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 9th biggest holding. Allspring Global Investments Holdings LLC owned 0.83% of American Electric Power worth $591,591,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AEP. Soroban Capital Partners LP raised its holdings in shares of 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 worth $415,526,000 after acquiring an additional 2,555,415 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of American Electric Power by 357.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company's stock worth $225,718,000 after purchasing an additional 1,529,662 shares during the last quarter. State Street Corp boosted its stake in shares of American Electric Power by 5.2% during the 4th quarter. State Street Corp now owns 30,437,776 shares of the company's stock worth $3,509,780,000 after purchasing an additional 1,514,865 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of American Electric Power by 118.2% during the third quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company's stock worth $286,692,000 after buying an additional 1,400,547 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of American Electric Power by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 6,316,688 shares of the company's stock worth $728,378,000 after buying an additional 937,346 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 0.5%

NASDAQ:AEP opened at $133.13 on Friday. The stock has a market cap of $72.44 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52. American Electric Power Company, Inc. has a one year low of $105.02 and a one year high of $140.58. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.53. The business's 50-day simple moving average is $131.24 and its 200 day simple moving average is $128.59.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.57 by $0.07. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.72 billion. American Electric Power had a net margin of 16.29% and a return on equity of 10.21%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 earnings per share. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, May 8th. This represents a $3.80 annualized dividend and a yield of 2.9%. American Electric Power's dividend payout ratio (DPR) is 55.80%.

Analysts Set New Price Targets

Several analysts have commented on AEP shares. Citigroup lifted their target price on shares of American Electric Power from $132.00 to $148.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Truist Financial lowered their price objective on American Electric Power from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, May 29th. LADENBURG THALM/SH SH reduced their target price on American Electric Power from $148.00 to $143.00 and set a "buy" rating on the stock in a research report on Thursday, June 18th. Barclays raised their price target on American Electric Power from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research report on Monday, June 1st. Thirteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.48.

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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