Bank of Nova Scotia Increases Stock Position in American Electric Power Company, Inc. $AEP

Bank of Nova Scotia grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 30.6% in the 2nd quarter, Holdings Channel reports. The fund owned 109,471 shares of the company’s stock after acquiring an additional 25,639 shares during the period. Bank of Nova Scotia’s holdings in American Electric Power were worth $11,359,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of American Electric Power by 12.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock valued at $82,000 after purchasing an additional 89 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after acquiring an additional 91 shares during the last quarter. Eagle Strategies LLC increased its stake in shares of American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after purchasing an additional 94 shares during the period. McIlrath & Eck LLC increased its position in American Electric Power by 3.2% in the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company’s stock valued at $344,000 after acquiring an additional 99 shares during the period. Finally, Advantage Trust Co increased its holdings in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AEP shares. Wells Fargo & Company boosted their target price on American Electric Power from $132.00 to $139.00 in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on American Electric Power from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. UBS Group boosted their price target on shares of American Electric Power from $110.00 to $116.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Jefferies Financial Group raised shares of American Electric Power from a “hold” rating to a “buy” rating and upped their price target for the company from $128.00 to $137.00 in a report on Monday, November 17th. Finally, Barclays lifted 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 note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.85.

Insider Activity at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $108.65, for a total transaction of $543,250.00. Following the sale, the director directly owned 40,898 shares of the company’s stock, valued at $4,443,567.70. The trade was a 10.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelly J. Ferneau sold 1,006 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $112.00, for a total value of $112,672.00. Following the completion of the sale, the executive vice president owned 5,676 shares of the company’s stock, valued at $635,712. The trade was a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,006 shares of company stock worth $1,851,422. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Trading Down 1.6%

NASDAQ:AEP opened at $114.16 on Thursday. The stock has a fifty day simple moving average of $119.12 and a 200 day simple moving average of $111.51. The firm has a market capitalization of $60.97 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 3.03 and a beta of 0.61. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $124.80. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. American Electric Power’s quarterly revenue was up 10.9% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a $0.95 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.3%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.93. American Electric Power’s dividend payout ratio (DPR) is 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.