GQG Partners LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the second quarter, HoldingsChannel.com reports. The fund bought 10,263,074 shares of the company’s stock, valued at approximately $1,404,094,000. American Electric Power comprises 2.6% of GQG Partners LLC’s holdings, making the stock its 12th biggest holding.
Other institutional investors also recently made changes to their positions in the company. Activest Wealth Management raised its position 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 worth $25,000 after purchasing an additional 91 shares during the period. Rakuten Securities Inc. boosted its position in 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 period. Costello Asset Management INC boosted its position in American Electric Power by 100.0% during the 1st quarter. Costello Asset Management INC now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Legacy Wealth Managment LLC ID grew its stake in American Electric Power by 200.0% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company’s stock worth $27,000 after buying an additional 154 shares during the last quarter. Finally, Basepoint Wealth LLC bought a new position in American Electric Power during the 4th quarter worth $27,000. 75.24% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on AEP. Wall Street Zen cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen upped their price target on shares of American Electric Power from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citigroup dropped their price objective on shares of American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Barclays cut their price objective on shares of American Electric Power from $138.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Monday, August 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a research report on Monday, June 1st. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, American Electric Power currently has an average rating of “Moderate Buy” and an average target price of $140.19.
American Electric Power Stock Down 3.8%
Shares of American Electric Power stock opened at $120.94 on Friday. 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 Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58. The business’s fifty day moving average price is $131.01 and its two-hundred day moving average price is $130.48. The company has a market capitalization of $65.84 billion, a P/E ratio of 20.74, a PEG ratio of 2.17 and a beta of 0.52.
American Electric Power (NASDAQ:AEP – Get Free Report) last released 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). The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.34 billion. American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, research analysts forecast that American Electric Power Company, Inc. will post 6.37 EPS for the current year.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, August 10th. American Electric Power’s dividend payout ratio is currently 65.18%.
About American Electric Power
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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