Bank of New York Mellon Corp Lowers Position in American Electric Power Company, Inc. $AEP

Bank of New York Mellon Corp decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,624,184 shares of the company’s stock after selling 158,290 shares during the period. Bank of New York Mellon Corp owned 0.68% of American Electric Power worth $376,045,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in American Electric Power by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company’s stock valued at $5,711,519,000 after buying an additional 579,175 shares during the period. Wellington Management Group LLP lifted its holdings in American Electric Power by 24.3% during the first quarter. Wellington Management Group LLP now owns 22,102,537 shares of the company’s stock worth $2,415,144,000 after buying an additional 4,323,569 shares during the period. GQG Partners LLC boosted its position in American Electric Power by 30.4% during the 1st quarter. GQG Partners LLC now owns 19,631,466 shares of the company’s stock valued at $2,145,130,000 after acquiring an additional 4,570,941 shares in the last quarter. Northern Trust Corp increased its holdings in shares of American Electric Power by 8.0% in the 1st quarter. Northern Trust Corp now owns 5,237,782 shares of the company’s stock valued at $572,332,000 after acquiring an additional 386,518 shares during the period. Finally, Nuveen LLC bought a new position in shares of American Electric Power in the 1st quarter worth $568,042,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.3%

AEP stock opened at $120.30 on Wednesday. The stock has a market capitalization of $64.39 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.22 and a beta of 0.48. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $122.85. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $113.24 and a 200 day moving average of $108.71.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the business posted $1.85 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s dividend payout ratio is presently 55.39%.

Insider Buying and Selling

In other news, EVP Kelly J. Ferneau sold 1,006 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the sale, the executive vice president directly owned 5,676 shares of the company’s stock, valued at $635,712. This represents a 15.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $117.52, for a total transaction of $587,600.00. Following the completion of the sale, the director owned 35,898 shares in the company, valued at $4,218,732.96. The trade was a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,006 shares of company stock worth $1,243,522. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AEP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of American Electric Power from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Cowen assumed coverage on shares of American Electric Power in a research note on Wednesday, October 15th. They set a “buy” rating for the company. Citigroup increased their target price on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, BTIG Research assumed coverage on shares of American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and an average price target of $124.50.

About American Electric Power

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.