Sumitomo Mitsui Trust Group Inc. Raises Stock Position in American Electric Power Company, Inc. $AEP

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,458,941 shares of the company’s stock after acquiring an additional 76,620 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of American Electric Power worth $164,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEP. Cary Street Partners Investment Advisory LLC grew its position in shares of American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after buying an additional 89 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of American Electric Power by 2.3% in the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock valued at $419,000 after acquiring an additional 91 shares in the last quarter. Eagle Strategies LLC lifted its stake in American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock worth $572,000 after acquiring an additional 94 shares during the period. Graves Light Lenhart Wealth Inc. grew its holdings in American Electric Power by 1.5% during the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 6,870 shares of the company’s stock worth $773,000 after acquiring an additional 99 shares in the last quarter. Finally, Advantage Trust Co increased its position in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.3%

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

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $6.01 billion for 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%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, research analysts anticipate 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. Shareholders of record on Monday, November 10th were issued a $0.95 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.93. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 10th. American Electric Power’s dividend payout ratio is 55.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Williams Trading set a $137.00 target price on American Electric Power in a research report on Thursday, December 18th. Mizuho boosted their price target on American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, TD Cowen upgraded American Electric Power to a “strong-buy” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

Insider Activity at American Electric Power

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director directly owned 25,898 shares of the company’s stock, valued at $2,980,082.86. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

About American Electric Power

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.