Northern Trust Corp Has $572.33 Million Holdings in American Electric Power Company, Inc. $AEP

Key Points

• Northern Trust Corp increased its stake in American Electric Power Company by 8.0% during the first quarter, now holding over 5.23 million shares valued at approximately $572 million.
• American Electric Power reported earnings of $1.43 per share for the last quarter, exceeding estimates, with a revenue of $5.09 billion compared to expectations of $4.85 billion.
• The company has declared a quarterly dividend of $0.93 per share, with a dividend yield of 3.4%, to be paid on September 10th to investors recorded by August 8th.

Northern Trust Corp increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,237,782 shares of the company's stock after acquiring an additional 386,518 shares during the quarter. Northern Trust Corp owned about 0.98% of American Electric Power worth $572,332,000 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 AEP. Brighton Jones LLC increased its position in American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after acquiring an additional 1,095 shares during the period. NewEdge Advisors LLC boosted its stake in American Electric Power by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 28,628 shares of the company's stock worth $2,640,000 after buying an additional 2,588 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in American Electric Power by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,615,930 shares of the company's stock worth $149,035,000 after buying an additional 91,244 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in American Electric Power during the fourth quarter worth $2,025,000. Finally, MetLife Investment Management LLC boosted its stake in American Electric Power by 1.9% during the fourth quarter. MetLife Investment Management LLC now owns 140,865 shares of the company's stock worth $12,992,000 after buying an additional 2,586 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Price Performance

NASDAQ AEP traded up $0.88 on Friday, hitting $114.02. 2,389,022 shares of the company were exchanged, compared to its average volume of 3,646,117. The firm has a 50 day moving average of $107.77 and a two-hundred day moving average of $105.57. The company has a market cap of $60.98 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.03 and a beta of 0.40. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36.

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

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 24,173 shares of company stock worth $2,467,015. Corporate insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. Wells Fargo & Company boosted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Guggenheim boosted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Mizuho set a $116.00 target price on shares of American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $111.29.

About American Electric Power

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.