PNC Financial Services Group Inc. lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 1.0% in the first quarter, HoldingsChannel reports. The firm owned 476,908 shares of the company’s stock after selling 4,611 shares during the period. PNC Financial Services Group Inc.’s holdings in American Electric Power were worth $62,513,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of American Electric Power by 72.2% in the fourth quarter. Activest Wealth Management now owns 217 shares of the company’s stock valued at $25,000 after buying an additional 91 shares during the last quarter. Optima Capital LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its stake in shares of American Electric Power by 7,300.0% in 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 lifted its stake in American Electric Power by 100.0% in the first quarter. Costello Asset Management INC now owns 200 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted 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 acquiring an additional 154 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.
American Electric Power Price Performance
Shares of NASDAQ AEP opened at $134.92 on Friday. The stock has a market capitalization of $73.41 billion, a PE ratio of 19.81, a P/E/G ratio of 2.39 and a beta of 0.52. The business has a fifty day moving average price of $131.49 and a two-hundred day moving average price of $129.18. American Electric Power Company, Inc. has a fifty-two week low of $105.70 and a fifty-two week high of $140.58. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.53 and a quick ratio of 0.39.
American Electric Power Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, August 10th. American Electric Power’s dividend payout ratio is currently 55.80%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on American Electric Power from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Jefferies Financial Group raised their target price on shares of American Electric Power from $147.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Morgan Stanley boosted their price target on American Electric Power from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wall Street Zen cut shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Truist Financial increased their price target on American Electric Power from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and an average target price of $141.71.
Check Out Our Latest Research Report on American Electric Power
Key Headlines Impacting American Electric Power
Here are the key news stories impacting American Electric Power this week:
- Positive Sentiment: Analysts were reported as bullish on American Electric Power and other utilities, which can bolster sentiment for AEP as investors look for defensive, income-oriented names. Analysts Are Bullish on These Utilities Stocks: Atmos Energy (ATO), American Electric Power (AEP)
- Positive Sentiment: Coverage highlighting AEP as a defensive stock for stability may be attracting investors seeking lower-volatility names amid broader market uncertainty. Beyond the AI Trade: 3 Defensive Stocks Built for Stability (AEP)
- Neutral Sentiment: Wall Street expects year-over-year earnings growth when AEP reports next week, but Zacks noted the company may not have the ideal setup for an earnings beat, keeping expectations balanced. American Electric Power (AEP) Reports Next Week: Wall Street Expects Earnings Growth
- Neutral Sentiment: The company is also widely expected to announce earnings on Thursday, which keeps attention focused on the upcoming report rather than on a new operational catalyst. American Electric Power (AEP) Projected to Announce Earnings on Thursday
- Negative Sentiment: BMO Capital Markets lowered its price target on AEP to $139 from $141, signaling slightly softer valuation expectations even while maintaining a market-perform view. American Electric Power had its price target lowered by BMO Capital Markets from $141.00 to $139.00
- Negative Sentiment: Recent articles questioning whether AEP is fully valued and suggesting the stock may be pricey despite its large capital plan could weigh on the shares. American Electric Power (AEP) Stock Could Be Pricey Despite Its $78b Capital Plan
American Electric Power Company Profile
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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