First Horizon Corp Makes New Investment in American Electric Power Company, Inc. $AEP

First Horizon Corp bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 21,939 shares of the company’s stock, valued at approximately $2,468,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its stake in American Electric Power by 10.1% in the third quarter. Pinnacle Bancorp Inc. now owns 2,336 shares of the company’s stock valued at $263,000 after acquiring an additional 215 shares during the last quarter. MGO One Seven LLC increased its stake in shares of American Electric Power by 43.8% in the 3rd quarter. MGO One Seven LLC now owns 20,047 shares of the company’s stock valued at $2,255,000 after purchasing an additional 6,105 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of American Electric Power during the 3rd quarter worth $26,000. Citizens Financial Group Inc. RI lifted its position in shares of American Electric Power by 24.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 11,857 shares of the company’s stock worth $1,334,000 after buying an additional 2,349 shares during the last quarter. Finally, Tema Etfs LLC boosted its stake in American Electric Power by 47.3% in the third quarter. Tema Etfs LLC now owns 54,376 shares of the company’s stock valued at $6,117,000 after buying an additional 17,467 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ AEP opened at $116.57 on Tuesday. The company has a market capitalization of $62.26 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.85 and a beta of 0.63. 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 Company, Inc. has a twelve month low of $92.76 and a twelve month high of $124.80. The stock has a fifty day simple moving average of $118.07 and a 200 day simple moving average of $113.67.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 EPS. American Electric Power has set its FY 2025 guidance at 5.850-5.95 EPS. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, November 10th. 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%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several research analyst reports. BTIG Research initiated coverage on American Electric Power in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Scotiabank upped their price objective on shares of American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 16th. Jefferies Financial Group raised shares of American Electric Power from a “hold” rating to a “buy” rating and increased their price objective for the company from $128.00 to $137.00 in a research note on Monday, November 17th. Citigroup boosted their target price on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, American Electric Power has an average rating of “Moderate Buy” and an average target price of $127.29.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

About American Electric Power

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.