Legal & General Group Plc bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,975,065 shares of the company’s stock, valued at approximately $680,638,000.
Other institutional investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. raised its holdings in American Electric Power by 0.9% in the 1st quarter. Essex Financial Services Inc. now owns 8,215 shares of the company’s stock valued at $1,077,000 after acquiring an additional 75 shares in the last quarter. Cornerstone Advisory LLC lifted its position in shares of American Electric Power by 1.3% in the 1st quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company’s stock worth $764,000 after acquiring an additional 75 shares during the period. Financial Enhancement Group LLC grew its holdings in shares of American Electric Power by 3.3% during the 1st quarter. Financial Enhancement Group LLC now owns 2,383 shares of the company’s stock worth $319,000 after purchasing an additional 76 shares in the last quarter. Community Trust & Investment Co. grew its holdings in shares of American Electric Power by 1.7% during the 2nd quarter. Community Trust & Investment Co. now owns 4,730 shares of the company’s stock worth $647,000 after purchasing an additional 77 shares in the last quarter. Finally, J2 Capital Management Inc increased its position in shares of American Electric Power by 2.0% during the first quarter. J2 Capital Management Inc now owns 4,099 shares of the company’s stock valued at $537,000 after purchasing an additional 79 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Raymond James Financial restated an “outperform” rating and issued a $144.00 target price on shares of American Electric Power in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of American Electric Power from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Wells Fargo & Company boosted their price target on shares of American Electric Power from $144.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group increased their price objective on shares of American Electric Power from $147.00 to $154.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Mizuho reduced 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 report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.19.
American Electric Power Stock Up 0.9%
NASDAQ AEP opened at $121.98 on Tuesday. The firm has a market cap of $66.41 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. American Electric Power Company, Inc. has a one year low of $105.70 and a one year high of $140.58. The stock’s 50 day simple moving average is $130.86 and its 200 day simple moving average is $130.58. 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 (NASDAQ:AEP – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The company’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, sell-side analysts forecast that American Electric Power Company, Inc. will post 6.37 earnings per share for the current fiscal year.
American Electric Power Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $0.95 dividend. The ex-dividend date is Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is 65.18%.
American Electric Power 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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