Royal Bank of Canada Has $764.73 Million Position in American Electric Power Company, Inc. $AEP

Key Points

• Royal Bank of Canada reduced its holdings in American Electric Power Company by 0.7%, now owning approximately 6.99 million shares valued at $764.7 million.
• American Electric Power reported a quarterly EPS of $1.43, surpassing analysts' expectations and showing an 11.1% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.93, with a dividend yield of 3.4% and a payout ratio of 54.39%.

Royal Bank of Canada lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,998,507 shares of the company's stock after selling 48,921 shares during the period. Royal Bank of Canada owned about 1.31% of American Electric Power worth $764,728,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the 1st quarter valued at $25,000. Bank of New Hampshire bought a new position in shares of American Electric Power during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of American Electric Power during the 1st quarter valued at $33,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power during the 4th quarter valued at $28,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEP. Raymond James Financial reiterated an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Morgan Stanley reiterated an "overweight" rating on shares of American Electric Power in a report on Thursday, August 21st. Barclays lifted their target price on shares of American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Mizuho set a $116.00 target price on shares of American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, UBS Group upped their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $111.29.

Insider Activity at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the 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 sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

American Electric Power Price Performance

NASDAQ AEP traded down $0.06 on Wednesday, reaching $110.03. The company's stock had a trading volume of 2,429,072 shares, compared to its average volume of 2,980,146. The firm has a market cap of $58.84 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.94 and a beta of 0.46. The business has a 50-day moving average price of $109.14 and a 200 day moving average price of $106.04. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $115.36. 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 (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio is 54.39%.

American Electric Power Company Profile

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.