Pinnacle West Asset Management Inc. Takes Position in American Electric Power Company, Inc. $AEP

Pinnacle West Asset Management Inc. acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,665 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HITE Hedge Asset Management LLC purchased a new stake in American Electric Power in the fourth quarter valued at $32,032,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of American Electric Power by 2.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 293,033 shares of the company’s stock worth $33,869,000 after purchasing an additional 8,302 shares during the period. Vanguard Group Inc. grew its holdings in shares of American Electric Power by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company’s stock worth $6,053,417,000 after purchasing an additional 828,588 shares during the period. Dockside LLC acquired a new stake in shares of American Electric Power during the 4th quarter worth about $1,912,000. Finally, Barclays PLC increased its position in shares of American Electric Power by 0.5% during the 4th quarter. Barclays PLC now owns 10,626,841 shares of the company’s stock worth $1,225,381,000 after purchasing an additional 57,807 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ AEP opened at $120.94 on Friday. The company has a market cap of $65.84 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.25 and a beta of 0.52. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.50 and a quick ratio of 0.38. The stock has a 50-day moving average of $131.01 and a two-hundred day moving average of $130.48. American Electric Power Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58.

American Electric Power (NASDAQ:AEP) last issued 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). American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.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 company posted $1.43 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, analysts anticipate that American Electric Power Company, Inc. will post 6.37 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. American Electric Power’s dividend payout ratio is presently 65.18%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a report on Monday, June 1st. JPMorgan Chase & Co. lowered their target price on shares of American Electric Power from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Morgan Stanley dropped their price target on shares of American Electric Power from $139.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday. Barclays reduced their price target on shares of American Electric Power from $138.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on shares of American Electric Power from $144.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.19.

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.