Bank of New York Mellon Corp Cuts Stock Holdings in American Electric Power Company, Inc. $AEP

Bank of New York Mellon Corp trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,605,021 shares of the company’s stock after selling 41,813 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of American Electric Power worth $472,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Essex Financial Services Inc. grew its stake in American Electric Power by 0.9% in the 1st quarter. Essex Financial Services Inc. now owns 8,215 shares of the company’s stock worth $1,077,000 after buying an additional 75 shares in the last quarter. Cornerstone Advisory LLC increased its holdings in shares of American Electric Power by 1.3% in the 1st quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company’s stock worth $764,000 after buying an additional 75 shares during the last quarter. Financial Enhancement Group LLC raised its position in shares of American Electric Power by 3.3% during the 1st quarter. Financial Enhancement Group LLC now owns 2,383 shares of the company’s stock valued at $319,000 after buying an additional 76 shares in the last quarter. J2 Capital Management Inc raised its position in shares of American Electric Power by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 4,099 shares of the company’s stock valued at $537,000 after buying an additional 79 shares in the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of American Electric Power by 2.9% during the 1st quarter. Bogart Wealth LLC now owns 2,905 shares of the company’s stock worth $381,000 after acquiring an additional 82 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

American Electric Power stock opened at $133.13 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $72.44 billion, a PE ratio of 19.55, a P/E/G ratio of 2.43 and a beta of 0.52. The firm has a fifty day simple moving average of $131.24 and a two-hundred day simple moving average of $128.59. American Electric Power Company, Inc. has a twelve month low of $105.02 and a twelve month high of $140.58.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. Research analysts expect that American Electric Power Company, Inc. will post 6.35 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $0.95 dividend. The ex-dividend date was Friday, May 8th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.9%. American Electric Power’s payout ratio is presently 55.80%.

Analyst Ratings Changes

AEP has been the subject of several research reports. Morgan Stanley upped their target price on shares of American Electric Power from $129.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. dropped their price target on American Electric Power from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Wall Street Zen cut American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Scotiabank increased their price objective on American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Truist Financial decreased their price objective on American Electric Power from $148.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Thirteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus target price of $141.48.

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.