Northwest & Ethical Investments L.P. Buys 28,634 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in American Electric Power by 15.7%, owning 210,653 shares valued at approximately $23 million at the end of the most recent reporting period.
• Several large investors also increased their stakes in American Electric Power, with total institutional ownership at 75.24% of the company’s stock.
• American Electric Power recently declared a quarterly dividend of $0.93, reflecting an annualized dividend yield of 3.3% and a payout ratio of 54.39%.

Northwest & Ethical Investments L.P. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 210,653 shares of the company's stock after purchasing an additional 28,634 shares during the period. Northwest & Ethical Investments L.P.'s holdings in American Electric Power were worth $23,018,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AEP. Clarius Group LLC lifted its stake in shares of American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock valued at $433,000 after purchasing an additional 95 shares during the period. Safeguard Investment Advisory Group LLC lifted its stake in shares of American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock valued at $223,000 after purchasing an additional 100 shares during the period. Marcum Wealth LLC lifted its stake in shares of American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after purchasing an additional 101 shares during the period. Ascent Group LLC lifted its stake in shares of American Electric Power by 0.4% in the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock valued at $2,572,000 after purchasing an additional 102 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of American Electric Power by 2.3% in the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock valued at $418,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEP. Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Scotiabank raised their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Morgan Stanley dropped their price objective on 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. Guggenheim raised their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their price objective on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $111.29.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 24,173 shares of company stock worth $2,467,015 in the last three months. 0.07% of the stock is owned by insiders.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.89 during trading on Wednesday, reaching $113.55. 2,817,633 shares of the stock were exchanged, compared to its average volume of 3,574,120. 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 12 month low of $89.91 and a 12 month high of $115.36. The stock has a 50-day moving average price of $107.12 and a 200-day moving average price of $105.22. The firm has a market cap of $60.73 billion, a PE ratio of 16.60, a PEG ratio of 2.94 and a beta of 0.40.

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

American Electric Power Dividend Announcement

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 given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

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.