Mitsubishi UFJ Asset Management Co. Ltd. Purchases 63,993 Shares of American Electric Power Company, Inc. $AEP

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,060,139 shares of the company’s stock after purchasing an additional 63,993 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in American Electric Power were worth $110,000,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Magellan Asset Management Ltd boosted its stake in shares of American Electric Power by 9.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 319,218 shares of the company’s stock worth $33,122,000 after acquiring an additional 28,204 shares during the period. Aviva PLC raised its stake in American Electric Power by 4.9% in the 2nd quarter. Aviva PLC now owns 9,086 shares of the company’s stock valued at $943,000 after acquiring an additional 424 shares during the period. RWA Wealth Partners LLC lifted its holdings in American Electric Power by 10.8% during the 2nd quarter. RWA Wealth Partners LLC now owns 8,196 shares of the company’s stock valued at $850,000 after purchasing an additional 799 shares during the last quarter. AGF Management Ltd. boosted its position in American Electric Power by 23.7% during the second quarter. AGF Management Ltd. now owns 55,918 shares of the company’s stock worth $5,802,000 after purchasing an additional 10,719 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of American Electric Power by 1.7% in the first quarter. Summit Investment Advisors Inc. now owns 22,502 shares of the company’s stock valued at $2,459,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of American Electric Power from $110.00 to $116.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their price target on shares of American Electric Power from $116.00 to $128.00 and gave the company a “hold” rating in a research note on Thursday, October 16th. Barclays raised their price objective on shares of American Electric Power from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their target price on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their price target on American Electric Power from $128.00 to $133.00 in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Insider Activity

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $117.52, for a total transaction of $587,600.00. Following the sale, the director directly owned 35,898 shares in the company, valued at $4,218,732.96. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelly J. Ferneau sold 1,006 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total transaction of $112,672.00. Following the completion of the transaction, the executive vice president directly owned 5,676 shares in the company, valued at approximately $635,712. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,006 shares of company stock valued at $1,243,522 in the last ninety days. 0.07% of the stock is currently owned by company insiders.

American Electric Power Trading Up 1.6%

Shares of AEP stock opened at $121.43 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. The stock has a market cap of $65.00 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The stock has a 50 day simple moving average of $113.74 and a 200 day simple moving average of $108.98. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $122.85.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a return on equity of 11.29% and a net margin of 17.23%.American Electric Power’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. On average, research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. This is a boost from American Electric Power’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, November 10th. American Electric Power’s payout ratio is presently 55.39%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.