Principle Wealth Partners LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,014 shares of the company's stock, valued at approximately $4,517,000.
Several other hedge funds have also recently modified their holdings of the stock. Elevation Wealth Partners LLC grew its stake in American Electric Power by 118.0% during the second quarter. Elevation Wealth Partners LLC now owns 194 shares of the company's stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Costello Asset Management INC lifted its stake in American Electric Power by 100.0% in the 1st quarter. Costello Asset Management INC now owns 200 shares of the company's stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Activest Wealth Management boosted its holdings in shares of American Electric Power by 72.2% during the 4th quarter. Activest Wealth Management now owns 217 shares of the company's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of American Electric Power by 7,300.0% during the 4th 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 last quarter. Finally, Union Savings Bank purchased a new position in shares of American Electric Power during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 75.24% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on AEP. TD Cowen lifted their target price on American Electric Power from $141.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Wells Fargo & Company increased their price target on American Electric Power from $144.00 to $148.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Raymond James Financial restated an "outperform" rating and set a $144.00 price target on shares of American Electric Power in a report on Friday, May 8th. LADENBURG THALM/SH SH reduced their price objective on American Electric Power from $148.00 to $143.00 and set a "buy" rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a research report on Monday, June 1st. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of "Moderate Buy" and a consensus price target of $140.38.
View Our Latest Research Report on American Electric Power
American Electric Power Trading Up 0.7%
Shares of AEP stock opened at $126.53 on Tuesday. The company has a market cap of $68.88 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. American Electric Power Company, Inc. has a 1 year low of $105.70 and a 1 year high of $140.58. The stock's 50 day simple moving average is $131.31 and its two-hundred day simple moving average is $130.41. 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 announced its earnings results on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.34 billion. American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.American Electric Power's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Research analysts predict that American Electric Power Company, Inc. will post 6.37 earnings per share for the current 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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, August 10th. American Electric Power's payout ratio is presently 65.18%.
About American Electric Power
(
Free Report)
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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