EP Wealth Advisors LLC Makes New Investment in American Electric Power Company, Inc. $AEP

EP Wealth Advisors LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,286 shares of the company's stock, valued at approximately $4,691,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Essex Financial Services Inc. grew its position in American Electric Power by 0.9% in the first quarter. Essex Financial Services Inc. now owns 8,215 shares of the company's stock worth $1,077,000 after acquiring an additional 75 shares in the last quarter. Cornerstone Advisory LLC lifted its stake in American Electric Power by 1.3% during the first quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company's stock worth $764,000 after purchasing an additional 75 shares during the last quarter. Financial Enhancement Group LLC boosted its holdings in shares of American Electric Power by 3.3% in the 1st quarter. Financial Enhancement Group LLC now owns 2,383 shares of the company's stock worth $319,000 after purchasing an additional 76 shares in the last quarter. Community Trust & Investment Co. boosted its holdings in shares of American Electric Power by 1.7% in the 2nd quarter. Community Trust & Investment Co. now owns 4,730 shares of the company's stock worth $647,000 after purchasing an additional 77 shares in the last quarter. Finally, J2 Capital Management Inc increased its position in shares of American Electric Power by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 4,099 shares of the company's stock valued at $537,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 3.8%

Shares of NASDAQ:AEP opened at $120.94 on Friday. The stock's 50-day moving average price is $131.01 and its 200-day moving average price is $130.48. American Electric Power Company, Inc. has a 12-month low of $105.70 and a 12-month high of $140.58. The stock has a market capitalization of $65.84 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. 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 (NASDAQ:AEP - Get Free Report) last released its 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). The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.34 billion. American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The company's revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 6.37 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.95 per share. 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 is 65.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEP. LADENBURG THALM/SH SH decreased their price objective on American Electric Power from $148.00 to $143.00 and set a "buy" rating on the stock in a report on Thursday, June 18th. Wall Street Zen lowered American Electric Power from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Barclays reduced their price target on shares of American Electric Power from $138.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Monday, August 3rd. Jefferies Financial Group lifted their price target on shares of American Electric Power from $147.00 to $154.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American Electric Power from $141.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, American Electric Power has an average rating of "Moderate Buy" and a consensus price target of $140.19.

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