Patton Fund Management Inc. Reduces Holdings in American Electric Power Company, Inc. $AEP

Key Points

• Patton Fund Management cut its stake in American Electric Power by 64.8% in the first quarter, leaving it with 27,249 shares valued at about $3.57 million.
• Analyst sentiment remains constructive overall: AEP has a Moderate Buy consensus rating, with 13 analysts rating it Buy and a consensus price target of $141.19.
• The utility reported solid quarterly results, including EPS of $1.64 versus estimates of $1.57 and revenue of $6.02 billion, while also paying a quarterly dividend of $0.95 per share.

Patton Fund Management Inc. lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 64.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,249 shares of the company's stock after selling 50,093 shares during the period. Patton Fund Management Inc.'s holdings in American Electric Power were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AEP. Activest Wealth Management grew its position in American Electric Power by 72.2% in the fourth quarter. Activest Wealth Management now owns 217 shares of the company's stock worth $25,000 after acquiring an additional 91 shares during the period. Optima Capital LLC acquired a new stake in American Electric Power during the fourth quarter worth $26,000. Rakuten Securities Inc. raised its position in American Electric Power by 7,300.0% in the fourth quarter. Rakuten Securities Inc. now owns 222 shares of the company's stock valued at $26,000 after purchasing an additional 219 shares during the period. Legacy Wealth Managment LLC ID raised its position in American Electric Power by 200.0% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company's stock valued at $27,000 after purchasing an additional 154 shares during the period. Finally, Basepoint Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research analyst reports. Citigroup increased their price target on American Electric Power from $132.00 to $148.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Barclays boosted their price objective on shares of American Electric Power from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of American Electric Power in a research report on Monday, June 1st. JPMorgan Chase & Co. lowered their target price on shares of American Electric Power from $141.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Finally, Morgan Stanley lifted their price target on shares of American Electric Power from $129.00 to $136.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.19.

American Electric Power Trading Up 0.1%

AEP opened at $138.83 on Monday. American Electric Power Company, Inc. has a 52 week low of $102.06 and a 52 week high of $139.44. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $130.77 and a 200-day simple moving average of $126.53. The firm has a market cap of $75.54 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.76 and a beta of 0.53.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.07. American Electric Power had a return on equity of 10.21% and a net margin of 16.29%.The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. On average, equities analysts expect that American Electric Power Company, Inc. will post 6.35 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power's dividend payout ratio is currently 55.80%.

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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