Elevation Point Wealth Partners LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 26,893 shares of the company's stock, valued at approximately $3,679,000.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of American Electric Power in the 2nd quarter valued at $6,980,601,000. GQG Partners LLC acquired a new stake in American Electric Power during the second quarter valued at $1,404,094,000. Bank of New York Mellon Corp acquired a new stake in American Electric Power during the second quarter valued at $495,495,000. Soroban Capital Partners LP increased its holdings in American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company's stock valued at $415,526,000 after buying an additional 2,555,415 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in American Electric Power by 8,776.8% in the first quarter. Janus Henderson Group PLC now owns 2,219,198 shares of the company's stock valued at $290,894,000 after buying an additional 2,194,198 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AEP has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of American Electric Power from $146.00 to $139.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Jefferies Financial Group lifted their price target on American Electric Power from $147.00 to $154.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. TD Cowen lifted their price target on American Electric Power from $141.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Mizuho reduced their price target on American Electric Power from $141.00 to $135.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Finally, Citigroup lowered their price target on American Electric Power from $148.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.19.
Check Out Our Latest Analysis on American Electric Power
American Electric Power Stock Performance
NASDAQ:AEP opened at $120.94 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50. The stock has a market capitalization of $65.84 billion, a PE ratio of 20.74, a P/E/G ratio of 2.17 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 company has a fifty day moving average of $131.01 and a two-hundred day moving average of $130.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.34 billion. American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, research 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, August 10th. American Electric Power's payout ratio is 65.18%.
American Electric Power Company Profile
(
Free Report)
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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