Bank of Nova Scotia Acquires 141,418 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Bank of Nova Scotia raised its stake in American Electric Power by 129.2%, buying an additional 141,418 shares to hold 250,889 shares valued at about $28.23 million at quarter-end.
• American Electric Power beat expectations with Q results of $1.19 EPS (vs. $1.15 est.) and $5.32B revenue (vs. $5.07B est.), set FY2026 guidance of $6.15–$6.45 EPS, and carries a consensus "Moderate Buy" rating with an average price target of $135.90.
• The company pays a quarterly dividend of $0.95 (annualized $3.80, yield ~2.8%, payout ratio ~56.7%); insiders have recently sold shares and institutional investors own roughly 75.24% of the stock.

Bank of Nova Scotia raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 129.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,889 shares of the company's stock after purchasing an additional 141,418 shares during the period. Bank of Nova Scotia's holdings in American Electric Power were worth $28,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of American Electric Power in the third quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in American Electric Power during the 3rd quarter valued at approximately $26,000. Dogwood Wealth Management LLC increased its position in American Electric Power by 330.2% during the 3rd quarter. Dogwood Wealth Management LLC now owns 228 shares of the company's stock valued at $26,000 after purchasing an additional 175 shares during the period. Osterweis Capital Management Inc. raised its holdings in American Electric Power by 3,000.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 310 shares of the company's stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Imprint Wealth LLC bought a new position in American Electric Power during the 3rd quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $134.15 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.33 and a debt-to-equity ratio of 1.37. The stock has a market cap of $72.83 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. The stock's fifty day simple moving average is $124.54 and its two-hundred day simple moving average is $118.80. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $135.00.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.07 billion. American Electric Power had a net margin of 16.37% and a return on equity of 10.46%. The business's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. American Electric Power has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, February 10th. American Electric Power's dividend payout ratio is presently 56.72%.

Insider Activity

In other American Electric Power news, EVP Kelly J. Ferneau sold 1,351 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $131.46, for a total value of $177,602.46. Following the completion of the sale, the executive vice president owned 15,410 shares in the company, valued at approximately $2,025,798.60. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Phillip R. Ulrich sold 4,106 shares of American Electric Power stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $132.08, for a total transaction of $542,320.48. Following the transaction, the executive vice president directly owned 42,263 shares in the company, valued at approximately $5,582,097.04. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AEP. Jefferies Financial Group reaffirmed a "buy" rating and issued a $150.00 price objective on shares of American Electric Power in a research note on Friday, February 20th. BMO Capital Markets lifted their target price on shares of American Electric Power from $125.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 17th. Argus boosted their target price on shares of American Electric Power from $128.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group upped their price target on shares of American Electric Power from $132.00 to $135.00 in a research report on Monday, March 9th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $133.00 price objective on shares of American Electric Power in a research report on Friday, February 20th. Thirteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $135.90.

American Electric Power 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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