Pinnacle West Asset Management Inc. Purchases New Shares in American Electric Power Company, Inc. $AEP

Pinnacle West Asset Management Inc. acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares during the period. Acadian Asset Management LLC acquired a new position in shares of American Electric Power during the 1st quarter worth about $320,000. Sivia Capital Partners LLC lifted its stake in American Electric Power by 149.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,891 shares of the company’s stock valued at $507,000 after buying an additional 2,931 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in American Electric Power by 4.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,505 shares of the company’s stock valued at $260,000 after buying an additional 105 shares in the last quarter. Finally, AXA S.A. boosted its holdings in American Electric Power by 95.7% in the 2nd quarter. AXA S.A. now owns 79,111 shares of the company’s stock worth $8,209,000 after buying an additional 38,684 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Wells Fargo & Company boosted their price objective on American Electric Power from $144.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial decreased their target price on American Electric Power from $146.00 to $139.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. BMO Capital Markets lowered their price target on American Electric Power from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Barclays dropped their price target on American Electric Power from $138.00 to $129.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Finally, Scotiabank increased their price objective on American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.19.

American Electric Power Stock Down 3.8%

Shares of NASDAQ AEP opened at $120.94 on Friday. The stock has a market cap of $65.84 billion, a PE ratio of 20.74, a P/E/G ratio of 2.25 and a beta of 0.52. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. American Electric Power Company, Inc. has a 12-month low of $105.70 and a 12-month high of $140.58. The company has a 50-day moving average of $131.01 and a 200 day moving average of $130.48.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, July 30th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.34 billion. American Electric Power had a return on equity of 9.95% and a net margin of 13.78%.The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $1.43 earnings per share. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 6.37 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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

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.