T. Rowe Price Investment Management Inc. Invests $77.26 Million in American Electric Power Company, Inc. $AEP

Key Points

• T. Rowe Price Investment Management Inc. has acquired 707,092 shares of American Electric Power Company, valued at approximately $77.26 million, representing about 0.13% ownership in the company.
• American Electric Power recently reported $1.43 EPS for the quarter, beating estimates, with revenue of $5.09 billion, indicating an 11.1% year-over-year increase.
• The company declared a quarterly dividend of $0.93 per share, reflecting a dividend yield of 3.3%, scheduled for payment on September 10th.

T. Rowe Price Investment Management Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 707,092 shares of the company's stock, valued at approximately $77,264,000. T. Rowe Price Investment Management Inc. owned about 0.13% of American Electric Power at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AEP. Clarius Group LLC grew its stake in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after acquiring an additional 95 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its stake in 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 worth $223,000 after acquiring an additional 100 shares in the last quarter. Marcum Wealth LLC grew its stake in American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after acquiring an additional 101 shares in the last quarter. Ascent Group LLC grew its stake in American Electric Power by 0.4% in the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after acquiring an additional 102 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in 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 worth $418,000 after acquiring an additional 103 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AEP. Wells Fargo & Company upped their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Guggenheim upped their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Scotiabank increased their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Citigroup increased their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Mizuho set a $116.00 price objective on shares of American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of "Hold" and a consensus target price of $111.29.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 24,173 shares of company stock valued at $2,467,015 over the last three months. Company insiders own 0.07% of the company's stock.

American Electric Power Stock Up 0.3%

NASDAQ:AEP traded up $0.29 during midday trading on Wednesday, reaching $112.92. 1,132,292 shares of the stock traded hands, compared to its average volume of 3,545,384. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36. The business has a 50-day moving average of $108.22 and a two-hundred day moving average of $105.70. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market capitalization of $60.39 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 3.00 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion during 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%. American Electric Power's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's dividend payout ratio (DPR) is currently 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.