Bank of New York Mellon Corp Purchases New Holdings in American Electric Power Company, Inc. $AEP

Key Points

• Bank of New York Mellon purchased 3.62 million American Electric Power shares worth approximately $495.5 million, representing a 0.67% stake. Institutional investors collectively own 75.24% of AEP.
• AEP shares opened at $120.94, down 3.8%, after the company reported quarterly EPS of $1.36, missing estimates of $1.48, despite revenue rising 7% year over year to $5.45 billion.
• AEP declared a quarterly dividend of $0.95, equivalent to $3.80 annually and a 3.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $140.19.

Bank of New York Mellon Corp bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,621,775 shares of the company's stock, valued at approximately $495,495,000. Bank of New York Mellon Corp owned 0.67% of American Electric Power as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Essex Financial Services Inc. increased its position in shares of American Electric Power by 0.9% in the first quarter. Essex Financial Services Inc. now owns 8,215 shares of the company's stock valued at $1,077,000 after buying an additional 75 shares in the last quarter. Cornerstone Advisory LLC increased its position in American Electric Power by 1.3% during the 1st quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company's stock worth $764,000 after purchasing an additional 75 shares in the last quarter. Financial Enhancement Group LLC raised its position in shares of American Electric Power by 3.3% in the first quarter. Financial Enhancement Group LLC now owns 2,383 shares of the company's stock valued at $319,000 after buying an additional 76 shares during the last quarter. Community Trust & Investment Co. lifted its stake in shares of American Electric Power by 1.7% during the 2nd quarter. Community Trust & Investment Co. now owns 4,730 shares of the company's stock worth $647,000 after purchasing an additional 77 shares during the period. Finally, J2 Capital Management Inc boosted its holdings in American Electric Power by 2.0% in the first quarter. J2 Capital Management Inc now owns 4,099 shares of the company's stock valued at $537,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 3.8%

AEP opened at $120.94 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.50 and a quick ratio of 0.38. The company has a market capitalization of $65.84 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. American Electric Power Company, Inc. has a fifty-two week low of $105.70 and a fifty-two week high of $140.58. The business has a 50-day moving average of $131.01 and a 200-day moving average of $130.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter last year, the company earned $1.43 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 6.37 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power's payout ratio is currently 65.18%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AEP shares. Scotiabank upped their target price on shares of American Electric Power from $131.00 to $140.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 6th. TD Cowen upped their price target on shares of American Electric Power from $141.00 to $148.00 and gave the company a "buy" rating in a report on Friday, May 15th. Citigroup decreased their price objective on shares of American Electric Power from $148.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Wall Street Zen lowered American Electric Power from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Morgan Stanley decreased their target price on American Electric Power from $139.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.19.

American Electric Power Company Profile

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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