Wellington Management Group LLP Purchases 4,323,569 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Wellington Management Group LLP increased its stake in American Electric Power (AEP) by 24.3%, owning over 22 million shares worth approximately $2.4 billion as of the latest filing.
• AEP reported earnings of $1.43 per share for the last quarter, surpassing analysts' expectations of $1.27, and its revenue rose 11.1% compared to the previous year.
• The company declared a quarterly dividend of $0.93, with the ex-dividend date set for August 8th, and the annualized yield calculated at 3.3%.

Wellington Management Group LLP lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 24.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,102,537 shares of the company's stock after buying an additional 4,323,569 shares during the period. Wellington Management Group LLP owned about 4.14% of American Electric Power worth $2,415,144,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AEP. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter valued at about $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of American Electric Power during the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power in the 1st quarter worth approximately $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.8%

Shares of AEP stock traded up $0.88 during trading hours on Friday, reaching $114.02. The company's stock had a trading volume of 2,389,022 shares, compared to its average volume of 3,641,025. The stock has a market capitalization of $60.98 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.00 and a beta of 0.40. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36. The firm's fifty day simple moving average is $107.77 and its 200 day simple moving average is $105.49. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

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

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is currently 54.39%.

Insider Buying and Selling at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 24,173 shares of company stock worth $2,467,015 in the last 90 days. Insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AEP. Mizuho set a $116.00 price target on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. UBS Group lifted their price target on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research note on Thursday, July 31st. Citigroup lifted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.29.

About American Electric Power

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.