AQR Capital Management LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 110.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,044,774 shares of the company's stock after purchasing an additional 547,325 shares during the quarter. AQR Capital Management LLC owned approximately 0.20% of American Electric Power worth $113,781,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in American Electric Power during the 1st quarter valued at approximately $568,042,000. GQG Partners LLC raised its stake in American Electric Power by 30.4% during the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares during the last quarter. Wellington Management Group LLP raised its stake in American Electric Power by 24.3% during 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 acquiring an additional 4,323,569 shares during the last quarter. Lazard Asset Management LLC raised its stake in American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after acquiring an additional 2,165,888 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in American Electric Power by 13,499.5% during the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock valued at $234,954,000 after acquiring an additional 2,134,404 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AEP has been the subject of several analyst reports. Barclays upped their price objective on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Scotiabank upped their price objective on 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. Mizuho set a $116.00 target price on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. UBS Group increased their target price 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of American Electric Power in a research note on Thursday, August 21st. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.29.
Check Out Our Latest Stock Analysis on American Electric Power
American Electric Power Price Performance
NASDAQ AEP traded up $0.81 during mid-day trading on Tuesday, hitting $108.36. The stock had a trading volume of 2,653,817 shares, compared to its average volume of 3,543,743. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The company has a market cap of $57.95 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 2.87 and a beta of 0.46. The company has a 50 day simple moving average of $109.62 and a 200 day simple moving average of $106.21. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33.
American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business posted $1.25 EPS. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is presently 54.39%.
Insider Buying and Selling
In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction 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 owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.
American Electric Power Profile
(
Free Report)
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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