Fifth Third Bancorp Has $54.06 Million Position in American Electric Power Company, Inc. $AEP

Fifth Third Bancorp grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 65.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,400 shares of the company’s stock after acquiring an additional 162,919 shares during the quarter. Fifth Third Bancorp owned 0.08% of American Electric Power worth $54,057,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Czech National Bank raised its holdings in shares of American Electric Power by 3.9% during the fourth quarter. Czech National Bank now owns 141,141 shares of the company’s stock worth $16,275,000 after acquiring an additional 5,314 shares during the period. HITE Hedge Asset Management LLC bought a new stake in American Electric Power during the fourth quarter worth about $32,032,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of American Electric Power by 2.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 293,033 shares of the company’s stock worth $33,869,000 after purchasing an additional 8,302 shares in the last quarter. Cyndeo Wealth Partners LLC raised its position in American Electric Power by 983.0% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 63,875 shares of the company’s stock worth $7,365,000 after acquiring an additional 57,977 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of American Electric Power by 17.7% in the 4th quarter. Merit Financial Group LLC now owns 63,526 shares of the company’s stock valued at $7,325,000 after purchasing an additional 9,532 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reduced their price target on American Electric Power from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, May 29th. LADENBURG THALM/SH SH reduced their target price on American Electric Power from $148.00 to $143.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. TD Cowen boosted their target price on American Electric Power from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup increased their price target on American Electric Power from $132.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Seaport Research Partners raised American Electric Power from a “neutral” rating to a “buy” rating and set a $145.00 price target for the company in a report on Monday, April 20th. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and an average target price of $141.38.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $135.43 on Monday. The firm has a market cap of $73.69 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.52. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 1-year low of $103.64 and a 1-year high of $140.58. The business’s 50 day moving average is $131.29 and its 200-day moving average is $128.06.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.07. American Electric Power had a return on equity of 10.21% and a net margin of 16.29%.The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 6.35 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power’s payout ratio is presently 55.80%.

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.