BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in American Electric Power Company, Inc. $AEP

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in American Electric Power by 69.4%, now owning approximately $4.06 million worth of shares.
• Several other institutional investors, including Nuveen and GQG Partners, have also made significant acquisitions in American Electric Power, emphasizing the firm's growing appeal amongst large investors.
• American Electric Power reported a quarterly earnings per share of $1.43, exceeding expectations, with revenue climbing 11.1% compared to the previous year.

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 69.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,180 shares of the company's stock after purchasing an additional 15,228 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in American Electric Power were worth $4,063,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new position in American Electric Power during the 1st quarter worth approximately $25,000. Bank of New Hampshire acquired a new position in American Electric Power during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in American Electric Power in the 1st quarter valued at approximately $33,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power in the 4th quarter valued at approximately $28,000. Finally, IMA Advisory Services Inc. acquired a new position in American Electric Power in the 1st quarter valued at approximately $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 price objective (up from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Scotiabank increased their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Barclays increased their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, UBS Group increased their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $111.29.

American Electric Power Stock Down 0.4%

Shares of American Electric Power stock traded down $0.49 during trading hours on Tuesday, reaching $112.52. The company's stock had a trading volume of 1,316,032 shares, compared to its average volume of 3,542,043. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36. The company has a market capitalization of $60.18 billion, a P/E ratio of 16.45, a P/E/G ratio of 3.03 and a beta of 0.40. The stock's fifty day simple moving average is $108.00 and its two-hundred day simple moving average is $105.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55.

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 analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the firm earned $1.25 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 24,173 shares of company stock valued at $2,467,015 over the last 90 days. 0.07% of the stock is currently owned by company insiders.

American Electric Power Profile

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.