Bank of America Corp DE Purchases Shares of 12,269,851 American Electric Power Company, Inc. $AEP

Key Points

• Bank of America acquired 12.27 million AEP shares worth approximately $1.68 billion, giving it a 2.25% stake. Institutional investors and hedge funds collectively own 75.24% of American Electric Power.
• AEP shares opened at $122.23, below the average analyst target of $140.19. Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and nine Hold ratings.
• The company reported quarterly revenue of $5.45 billion, up 7% year over year, but missed earnings expectations with EPS of $1.36 versus $1.48 expected. AEP also pays a quarterly dividend of $0.95 per share, yielding about 3.1% annually.

Bank of America Corp DE purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,269,851 shares of the company's stock, valued at approximately $1,678,638,000. Bank of America Corp DE owned about 2.25% of American Electric Power at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of American Electric Power in the second quarter worth about $6,980,601,000. Geode Capital Management LLC raised its position in American Electric Power by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 13,823,744 shares of the company's stock worth $1,587,841,000 after buying an additional 83,285 shares during the last quarter. GQG Partners LLC purchased a new position in American Electric Power during the 2nd quarter worth approximately $1,404,094,000. Barclays PLC lifted its stake in American Electric Power by 0.5% during the 4th quarter. Barclays PLC now owns 10,626,841 shares of the company's stock valued at $1,225,381,000 after acquiring an additional 57,807 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in American Electric Power by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,316,688 shares of the company's stock valued at $728,378,000 after acquiring an additional 937,346 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Down 0.9%

AEP stock opened at $122.23 on Tuesday. American Electric Power Company, Inc. has a one year low of $105.70 and a one year high of $140.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50. The firm's fifty day moving average is $127.70 and its 200 day moving average is $130.30. The firm has a market cap of $66.54 billion, a PE ratio of 20.97, a P/E/G ratio of 2.61 and a beta of 0.51.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.34 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The company's revenue was up 7.0% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. On average, research analysts forecast that American Electric Power Company, Inc. will post 6.38 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were given a dividend of $0.95 per share. The ex-dividend date was Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power's dividend payout ratio (DPR) is 65.18%.

Analyst Ratings Changes

AEP has been the subject of several recent research reports. Jefferies Financial Group raised their target price on shares of American Electric Power from $147.00 to $154.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. TD Cowen reaffirmed a "buy" rating on shares of American Electric Power in a report on Wednesday, September 9th. Truist Financial reduced their price objective on American Electric Power from $146.00 to $139.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Mizuho decreased their price objective on American Electric Power from $141.00 to $135.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Finally, Barclays lowered their target price on American Electric Power from $138.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Monday, August 3rd. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.19.

Insider Transactions at American Electric Power

In related news, CAO Kate Dixon sold 2,000 shares of American Electric Power stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief accounting officer owned 15,856 shares of the company's stock, valued at approximately $1,982,000. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company's stock.

About American Electric Power

American Electric Power Company, Inc NASDAQ: AEP is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and other customers. Its operations include regulated electric utilities, power generation facilities and one of the largest electricity transmission networks in the United States.

AEP provides energy delivery and related utility services through operating companies serving customers across Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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