New England Asset Management Inc. Increases Position in American Electric Power Company, Inc. $AEP

Key Points

• New England Asset Management Inc. increased its holdings in American Electric Power Company, Inc. (AEP) by 20.5% during the 1st quarter, now owning shares worth $3.69 million.
• Analysts have mixed ratings on AEP, with five giving a Buy rating and a target price averaging $111.29, while one has issued a Sell rating.
• American Electric Power recently reported third-quarter earnings of $1.43 per share, exceeding expectations, and plans to pay a quarterly dividend of $0.93 on September 10th.

New England Asset Management Inc. boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,805 shares of the company's stock after purchasing an additional 5,745 shares during the period. New England Asset Management Inc.'s holdings in American Electric Power were worth $3,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV increased its holdings in American Electric Power by 10.1% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 130,538 shares of the company's stock valued at $14,264,000 after purchasing an additional 11,972 shares during the period. NewEdge Advisors LLC increased its holdings in American Electric Power by 44.8% in the first quarter. NewEdge Advisors LLC now owns 41,451 shares of the company's stock valued at $4,529,000 after purchasing an additional 12,823 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in American Electric Power by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 442,723 shares of the company's stock valued at $48,357,000 after purchasing an additional 38,443 shares during the period. Integrated Wealth Concepts LLC increased its holdings in American Electric Power by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 30,372 shares of the company's stock valued at $3,319,000 after purchasing an additional 1,680 shares during the period. Finally, Hancock Whitney Corp increased its holdings in American Electric Power by 1.4% in the first quarter. Hancock Whitney Corp now owns 10,319 shares of the company's stock valued at $1,128,000 after purchasing an additional 143 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power 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 owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by company insiders.

American Electric Power Stock Down 0.0%

Shares of AEP stock traded down $0.04 on Thursday, reaching $108.31. 761,455 shares of the company were exchanged, compared to its average volume of 3,521,633. The company has a market cap of $57.92 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 2.87 and a beta of 0.46. The company has a 50-day moving average of $109.80 and a 200-day moving average of $106.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AEP shares. UBS Group increased their price objective on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Jefferies Financial Group decreased their price target on American Electric Power from $120.00 to $116.00 and set a "hold" rating for the company in a report on Thursday. Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Mizuho set a $116.00 price target on American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Raymond James Financial reiterated an "outperform" rating and set a $122.00 price target (up from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.93.

American Electric Power Profile

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.