Freestone Grove Partners LP Invests $41.04 Million in American Electric Power Company, Inc. $AEP

Freestone Grove Partners LP purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,000 shares of the company’s stock, valued at approximately $41,043,000. Freestone Grove Partners LP owned 0.06% of American Electric Power at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after acquiring an additional 1,095 shares in the last quarter. Acadian Asset Management LLC bought a new position in American Electric Power during the first quarter worth about $320,000. Sivia Capital Partners LLC boosted its stake in shares of 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 purchasing an additional 2,931 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of 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 worth $260,000 after acquiring an additional 105 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of American Electric Power by 95.7% during the second quarter. AXA S.A. now owns 79,111 shares of the company’s stock valued at $8,209,000 after purchasing an additional 38,684 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.5%

Shares of American Electric Power stock opened at $123.36 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.50 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 market capitalization of $67.16 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.24 and a beta of 0.52. The firm’s 50-day moving average price is $130.63 and its two-hundred day moving average price is $130.62.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. American Electric Power’s quarterly revenue was up 7.0% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. On average, 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 firm 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. The ex-dividend date is Monday, August 10th. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio is presently 65.18%.

Analyst Ratings Changes

AEP has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on shares of American Electric Power from $147.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. LADENBURG THALM/SH SH lowered their price target on shares of American Electric Power from $148.00 to $143.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. Wells Fargo & Company boosted their target price on shares of American Electric Power from $144.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley dropped their price objective on American Electric Power from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Finally, Truist Financial dropped their price objective on shares of 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. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.19.

American Electric Power Company 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.