Lockheed Martin Investment Management Co. Purchases 6,900 Shares of American Electric Power Company, Inc. $AEP

Lockheed Martin Investment Management Co. grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 99,600 shares of the company’s stock after buying an additional 6,900 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in American Electric Power were worth $11,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of AEP. Soroban Capital Partners LP raised its stake in American Electric Power by 176.3% in the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 shares in the last quarter. Amundi increased its holdings in shares of American Electric Power by 26.1% during the second quarter. Amundi now owns 3,694,659 shares of the company’s stock worth $381,510,000 after purchasing an additional 765,258 shares during the period. State Street Corp raised its position in shares of American Electric Power by 2.3% in the second quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after buying an additional 653,712 shares in the last quarter. Invesco Ltd. boosted its stake in shares of American Electric Power by 5.9% in the second quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after buying an additional 432,441 shares during the period. Finally, National Pension Service boosted its stake in shares of American Electric Power by 22.8% in the second quarter. National Pension Service now owns 1,894,580 shares of the company’s stock valued at $196,582,000 after buying an additional 352,198 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP stock opened at $117.18 on Friday. The business has a fifty day simple moving average of $117.65 and a 200 day simple moving average of $114.38. The company has a market cap of $62.58 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.84 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. American Electric Power Company, Inc. has a twelve month low of $97.05 and a twelve month high of $124.80.

American Electric Power (NASDAQ:AEP) last released its 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 business had revenue of $6.01 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. American Electric Power’s dividend payout ratio is presently 55.39%.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director owned 25,898 shares in the company, valued at $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI reaffirmed an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Williams Trading set a $137.00 price target on American Electric Power in a research report on Thursday, December 18th. TD Cowen raised American Electric Power to a “strong-buy” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday. Finally, UBS Group reduced their price objective on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.66.

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.