Cornerstone Select Advisors LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,857 shares of the company's stock, valued at approximately $312,000.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in American Electric Power by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock valued at $5,711,519,000 after acquiring an additional 579,175 shares in the last quarter. GQG Partners LLC lifted its stake in American Electric Power by 30.4% in the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company's stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares in the last quarter. Royal Bank of Canada lifted its stake in American Electric Power by 1.2% in the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after acquiring an additional 85,756 shares in the last quarter. Lazard Asset Management LLC lifted its stake in American Electric Power by 51.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after acquiring an additional 2,165,888 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in American Electric Power by 8.0% in the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company's stock valued at $572,332,000 after acquiring an additional 386,518 shares in the last quarter. Institutional investors own 75.24% of the company's stock.
American Electric Power Stock Performance
Shares of AEP stock traded up $0.88 during trading on Friday, reaching $114.02. 2,389,022 shares of the company's stock were exchanged, compared to its average volume of 3,641,025. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $60.98 billion, a PE ratio of 16.67, a PEG ratio of 3.00 and a beta of 0.40. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. The firm's fifty day moving average price is $107.77 and its 200-day moving average price is $105.49.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%.The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.
Insider Buying and Selling at American Electric Power
In related news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% 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. Over the last quarter, insiders sold 24,173 shares of company stock worth $2,467,015. 0.07% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Citigroup boosted their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Scotiabank upped their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Barclays upped their price objective on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Mizuho set a $116.00 price objective on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $111.29.
Get Our Latest Stock Report on AEP
American Electric Power Company Profile
(
Free Report)
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.
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