Mirae Asset Global Investments Co. Ltd. Grows Position in American Electric Power Company, Inc. $AEP

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 29.1% during the fourth quarter, HoldingsChannel reports. The firm owned 272,169 shares of the company’s stock after purchasing an additional 61,366 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Electric Power were worth $31,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of American Electric Power by 105.6% during the third quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock worth $595,243,000 after buying an additional 2,763,328 shares during the period. Soroban Capital Partners LP increased its position in shares of 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 valued at $415,526,000 after acquiring an additional 2,555,415 shares during the period. Assenagon Asset Management S.A. raised its stake in American Electric Power by 357.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company’s stock worth $225,718,000 after acquiring an additional 1,529,662 shares during the last quarter. AQR Capital Management LLC raised its stake in American Electric Power by 118.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company’s stock worth $286,692,000 after acquiring an additional 1,400,547 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in American Electric Power by 26.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,084,813 shares of the company’s stock worth $684,772,000 after acquiring an additional 1,285,279 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.7%

Shares of AEP stock opened at $133.66 on Friday. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $137.74. The company has a market cap of $72.65 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 3.16 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.45 and a quick ratio of 0.33. The stock has a 50 day simple moving average of $131.10 and a 200-day simple moving average of $122.56.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.07 billion. American Electric Power had a net margin of 16.37% and a return on equity of 10.46%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. American Electric Power has set its FY 2026 guidance at 6.150-6.450 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.8%. American Electric Power’s payout ratio is currently 56.72%.

Insider Activity

In related news, EVP Phillip R. Ulrich sold 4,106 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $132.08, for a total transaction of $542,320.48. Following the completion of the transaction, the executive vice president owned 42,263 shares in the company, valued at $5,582,097.04. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelly J. Ferneau sold 1,351 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $131.46, for a total transaction of $177,602.46. Following the completion of the transaction, the executive vice president directly owned 15,410 shares in the company, valued at $2,025,798.60. This represents a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AEP has been the topic of several research analyst reports. Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and dropped their price target for the company from $131.00 to $122.00 in a research note on Monday, January 12th. Wall Street Zen cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Saturday. BMO Capital Markets lifted their target price on American Electric Power from $136.00 to $141.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. LADENBURG THALM/SH SH upgraded American Electric Power from a “neutral” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group raised their price target on shares of American Electric Power from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.81.

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.