Beacon Pointe Advisors LLC Buys Shares of 38,831 American Electric Power Company, Inc. $AEP

Beacon Pointe Advisors LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,831 shares of the company's stock, valued at approximately $5,313,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in American Electric Power in the 2nd quarter valued at approximately $6,980,601,000. State Street Corp boosted its stake in shares of American Electric Power by 5.2% during the 4th quarter. State Street Corp now owns 30,437,776 shares of the company's stock valued at $3,509,780,000 after buying an additional 1,514,865 shares during the period. Morgan Stanley boosted its stake in shares of American Electric Power by 1.9% during the 4th quarter. Morgan Stanley now owns 14,661,858 shares of the company's stock valued at $1,690,659,000 after buying an additional 271,879 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 valued at $1,587,841,000 after acquiring an additional 83,285 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of American Electric Power during the 2nd quarter valued at $1,678,638,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEP has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of American Electric Power from $144.00 to $148.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. LADENBURG THALM/SH SH lowered their target price on American Electric Power from $148.00 to $143.00 and set a "buy" rating on the stock in a research note on Thursday, June 18th. Morgan Stanley dropped their target price on American Electric Power from $139.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of American Electric Power in a research note on Monday, June 1st. Finally, Truist Financial cut their price target 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. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.19.

American Electric Power Stock Down 0.3%

American Electric Power stock opened at $122.31 on Friday. The company has a market capitalization of $66.59 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.23 and a beta of 0.52. The firm's fifty day simple moving average is $130.42 and its 200-day simple moving average is $130.57. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. American Electric Power Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.36 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 business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The company's quarterly 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. Sell-side analysts forecast that American Electric Power Company, Inc. will post 6.37 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. American Electric Power's dividend payout ratio (DPR) is presently 65.18%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source