Magellan Asset Management Ltd Invests $56.52 Million in American Electric Power Company, Inc. $AEP

Magellan Asset Management Ltd bought a new position in shares of 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 & Exchange Commission. The firm bought 413,164 shares of the company’s stock, valued at approximately $56,525,000. American Electric Power comprises about 1.3% of Magellan Asset Management Ltd’s holdings, making the stock its 24th largest position. Magellan Asset Management Ltd owned 0.08% of American Electric Power at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AEP. Activest Wealth Management lifted its stake in shares of American Electric Power by 72.2% in the 4th quarter. Activest Wealth Management now owns 217 shares of the company’s stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of American Electric Power by 7,300.0% during the 4th quarter. Rakuten Securities Inc. now owns 222 shares of the company’s stock valued at $26,000 after purchasing an additional 219 shares during the period. Costello Asset Management INC increased its stake in American Electric Power by 100.0% in the 1st quarter. Costello Asset Management INC now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Legacy Wealth Managment LLC ID lifted its holdings in shares of American Electric Power by 200.0% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company’s stock worth $27,000 after acquiring an additional 154 shares during the last quarter. Finally, Basepoint Wealth LLC purchased a new stake in shares of American Electric Power during the fourth quarter valued at $27,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AEP shares. Barclays lowered 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 report on Monday, August 3rd. Morgan Stanley lowered their target price on shares of American Electric Power from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen upped their price target on American Electric Power from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Citigroup cut their price target on shares of American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.19.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $120.94 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $65.84 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.17 and a beta of 0.52. American Electric Power Company, Inc. has a 52-week low of $105.70 and a 52-week high of $140.58. The stock’s fifty day simple moving average is $131.01 and its 200-day simple moving average is $130.57.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). The company had revenue of $5.45 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 6.37 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

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