Energy Income Partners LLC Buys Shares of 919,858 American Electric Power Company, Inc. $AEP

Key Points

• Energy Income Partners purchased 919,858 shares of American Electric Power in the second quarter, valued at approximately $125.8 million. The position represents about 2% of the firm’s portfolio and 0.17% of AEP’s outstanding stock.
• Analysts maintain a generally positive view, with 13 Buy ratings and nine Holds producing a “Moderate Buy” consensus and an average price target of $140.38. AEP recently reported quarterly EPS of $1.36, below the $1.48 estimate, despite revenue rising 7% year over year to $5.45 billion.
• AEP declared a quarterly dividend of $0.95 per share, or $3.80 annually, representing a 3.0% yield and a 65.18% payout ratio.

Energy Income Partners LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 919,858 shares of the company's stock, valued at approximately $125,846,000. American Electric Power makes up about 2.0% of Energy Income Partners LLC's investment portfolio, making the stock its 14th biggest holding. Energy Income Partners LLC owned 0.17% of American Electric Power at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management increased its holdings in American Electric Power by 72.2% during the 4th quarter. Activest Wealth Management now owns 217 shares of the company's stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of American Electric Power by 7,300.0% during the 4th quarter. Rakuten Securities Inc. now owns 222 shares of the company's stock worth $26,000 after purchasing an additional 219 shares in the last quarter. Costello Asset Management INC raised its position in shares of American Electric Power by 100.0% during the 1st quarter. Costello Asset Management INC now owns 200 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Legacy Wealth Managment LLC ID grew its holdings in American Electric Power by 200.0% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company's stock valued at $27,000 after buying an additional 154 shares during the last quarter. Finally, Basepoint Wealth LLC purchased a new position in American Electric Power during the fourth quarter worth $27,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. Truist Financial cut their target price on shares of American Electric Power from $146.00 to $139.00 and set a "buy" rating for the company in a research note on Monday. LADENBURG THALM/SH SH decreased their target price on shares of American Electric Power from $148.00 to $143.00 and set a "buy" rating on the stock in a research report on Thursday, June 18th. Jefferies Financial Group boosted their price target on American Electric Power from $147.00 to $154.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. BMO Capital Markets lowered their price objective on American Electric Power from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded American Electric Power from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Thirteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of "Moderate Buy" and an average target price of $140.38.

American Electric Power Price Performance

American Electric Power stock opened at $126.35 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $68.78 billion, a P/E ratio of 21.67, a PEG ratio of 2.25 and a beta of 0.52. The firm has a fifty day moving average of $131.28 and a 200-day moving average of $130.46. American Electric Power Company, Inc. has a 52-week low of $105.70 and a 52-week high of $140.58.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $5.34 billion. During the same period last year, the company posted $1.43 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 6.37 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, August 10th. American Electric Power's dividend payout ratio (DPR) is presently 65.18%.

American Electric Power Company 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