American Electric Power Company, Inc. $AEP Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,458,941 shares of the company’s stock after purchasing an additional 76,620 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in American Electric Power were worth $164,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in American Electric Power during the 3rd quarter valued at approximately $26,000. Harbor Capital Advisors Inc. acquired a new stake in shares of American Electric Power in the third quarter worth $26,000. Advantage Trust Co raised its holdings in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Montag A & Associates Inc. lifted its position in American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares during the period. Finally, Missouri Trust & Investment Co acquired a new stake in American Electric Power during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AEP. Scotiabank upped their target price on American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 16th. Citigroup upped their price objective on American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. BMO Capital Markets set a $126.00 price objective on shares of American Electric Power in a research note on Thursday, October 30th. Siebert Williams Shank started coverage on shares of American Electric Power in a report on Thursday, December 18th. They set a “buy” rating and a $137.00 target price for the company. Finally, BTIG Research initiated coverage on shares of American Electric Power in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

American Electric Power Trading Down 0.3%

Shares of AEP stock opened at $116.57 on Tuesday. American Electric Power Company, Inc. has a 1-year low of $92.76 and a 1-year high of $124.80. The company has a market cap of $62.26 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.85 and a beta of 0.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $118.07 and a 200-day simple moving average of $113.67.

American Electric Power (NASDAQ:AEP) last released 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). The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. American Electric Power’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a dividend of $0.95 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, November 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.3%. American Electric Power’s payout ratio is currently 55.39%.

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.