Glenview Trust Co Invests $1.18 Million in American Electric Power Company, Inc. $AEP

Key Points

• Glenview Trust Co. purchased 8,606 AEP shares worth approximately $1.18 million during the second quarter. Institutional investors collectively own 75.24% of American Electric Power.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $140.19, despite several recent target reductions.
• AEP shares opened at $122.31, while the company reported quarterly EPS of $1.36, below expectations, and revenue of $5.45 billion, up 7% year over year. AEP also declared a quarterly dividend of $0.95 per share, representing a 3.1% annualized yield.

Glenview Trust Co purchased a new stake 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 Securities and Exchange Commission. The institutional investor purchased 8,606 shares of the company's stock, valued at approximately $1,177,000.

Several other institutional investors also recently modified their holdings of AEP. BlackRock Inc. bought a new position in shares of American Electric Power during the 2nd quarter valued at $6,980,601,000. State Street Corp increased its holdings in shares of American Electric Power by 5.2% in the fourth quarter. State Street Corp now owns 30,437,776 shares of the company's stock worth $3,509,780,000 after buying an additional 1,514,865 shares during the period. Morgan Stanley boosted its holdings in American Electric Power by 1.9% during the 4th quarter. Morgan Stanley now owns 14,661,858 shares of the company's stock valued at $1,690,659,000 after acquiring an additional 271,879 shares during the period. Geode Capital Management LLC grew its position in American Electric Power by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 13,823,744 shares of the company's stock worth $1,587,841,000 after acquiring an additional 83,285 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of American Electric Power during the second quarter valued at approximately $1,678,638,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of American Electric Power from $147.00 to $154.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Truist Financial reduced their price target on American Electric Power from $146.00 to $139.00 and set a "buy" rating on the stock in a report on Monday, August 17th. LADENBURG THALM/SH SH decreased their target price on American Electric Power from $148.00 to $143.00 and set a "buy" rating for the company in a report on Thursday, June 18th. BMO Capital Markets dropped their price target on American Electric Power from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Finally, Mizuho reduced their price objective on shares of American Electric Power from $141.00 to $135.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.19.

American Electric Power Stock Down 0.3%

Shares of American Electric Power stock opened at $122.31 on Friday. American Electric Power Company, Inc. has a 1 year low of $105.70 and a 1 year high of $140.58. The firm has a market cap of $66.59 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.24 and a beta of 0.52. The company has a 50-day moving average of $130.42 and a 200 day moving average of $130.57. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.50 and a quick ratio of 0.38.

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 (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.34 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. American Electric Power'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, sell-side analysts anticipate that American Electric Power Company, Inc. will post 6.37 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, August 10th. American Electric Power's dividend payout ratio (DPR) is currently 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.

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