QRG Capital Management Inc. Acquires 12,305 Shares of American Electric Power Company, Inc. $AEP

Key Points

• QRG Capital Management increased its AEP stake by 8.1% in the second quarter, adding 12,305 shares for a total of 163,903 shares valued at approximately $22.4 million. Institutional investors collectively own 75.24% of the company.
• Analysts maintain a “Moderate Buy” consensus on AEP, with 13 Buy ratings and nine Holds, although several firms recently lowered their price targets. The average target is $140.05 versus a recent share price of $118.40.
• AEP reported quarterly revenue of $5.45 billion, above estimates, but earnings of $1.36 per share missed expectations. The company pays a quarterly dividend of $0.95 per share, representing a 3.2% annualized yield.

QRG Capital Management Inc. boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,903 shares of the company's stock after acquiring an additional 12,305 shares during the quarter. QRG Capital Management Inc.'s holdings in American Electric Power were worth $22,424,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new position in American Electric Power during the 4th quarter valued at about $32,032,000. BlackRock Inc. acquired a new stake in shares of American Electric Power during the second quarter worth approximately $6,980,601,000. Dockside LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth approximately $1,912,000. Barclays PLC raised its stake in shares of American Electric Power by 0.5% in the fourth quarter. Barclays PLC now owns 10,626,841 shares of the company's stock valued at $1,225,381,000 after acquiring an additional 57,807 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $2,318,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEP. Citigroup cut their price objective on American Electric Power from $148.00 to $142.00 and set a "neutral" rating for the company in a research report on Wednesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of American Electric Power in a research report on Thursday, August 27th. Mizuho lowered their price objective on shares of American Electric Power from $141.00 to $135.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of American Electric Power in a research report on Wednesday, September 9th. Finally, Barclays decreased their price target on shares of American Electric Power from $138.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, American Electric Power has a consensus rating of "Moderate Buy" and an average target price of $140.05.

American Electric Power Price Performance

Shares of AEP stock opened at $118.40 on Thursday. The firm's 50 day moving average price is $125.61 and its two-hundred day moving average price is $129.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50. American Electric Power Company, Inc. has a 52-week low of $107.78 and a 52-week high of $140.58. The stock has a market cap of $64.46 billion, a PE ratio of 20.31, a PEG ratio of 2.55 and a beta of 0.51.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, analysts forecast that American Electric Power Company, Inc. will post 6.38 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a dividend of $0.95 per share. The ex-dividend date was Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. American Electric Power's dividend payout ratio (DPR) is 65.18%.

Insider Activity

In other news, CAO Kate Dixon sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer directly owned 15,856 shares in the company, valued at approximately $1,982,000. The trade was a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company's stock.

About American Electric Power

American Electric Power Company, Inc NASDAQ: AEP is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and other customers. Its operations include regulated electric utilities, power generation facilities and one of the largest electricity transmission networks in the United States.

AEP provides energy delivery and related utility services through operating companies serving customers across Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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