Eastern Bank Boosts Holdings in American Electric Power Company, Inc. $AEP

Eastern Bank lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.5% in the second quarter, HoldingsChannel reports. The firm owned 424,212 shares of the company’s stock after buying an additional 18,357 shares during the quarter. Eastern Bank’s holdings in American Electric Power were worth $58,036,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Essex Financial Services Inc. boosted its position 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 valued at $1,077,000 after buying an additional 75 shares during the period. Cornerstone Advisory LLC grew its stake in shares of American Electric Power by 1.3% in the first quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company’s stock worth $764,000 after acquiring an additional 75 shares in the last quarter. Financial Enhancement Group LLC increased its position in shares of American Electric Power by 3.3% during the first quarter. Financial Enhancement Group LLC now owns 2,383 shares of the company’s stock worth $319,000 after acquiring an additional 76 shares during the period. J2 Capital Management Inc increased its position in shares of American Electric Power by 2.0% during the first quarter. J2 Capital Management Inc now owns 4,099 shares of the company’s stock worth $537,000 after acquiring an additional 79 shares during the period. Finally, Bogart Wealth LLC raised its stake in shares of American Electric Power by 2.9% in the first quarter. Bogart Wealth LLC now owns 2,905 shares of the company’s stock valued at $381,000 after acquiring an additional 82 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays decreased their target price on American Electric Power from $138.00 to $129.00 and set an “equal weight” rating for the company in a report on Monday. Truist Financial increased their price target on American Electric Power from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Citigroup lifted their price objective 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. Mizuho lowered their price objective on American Electric Power from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday. Finally, TD Cowen upped their target price on shares of American Electric Power from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

American Electric Power Stock Performance

Shares of AEP stock opened at $128.32 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. The firm has a fifty day moving average price of $131.73 and a 200 day moving average price of $129.93. The company has a market cap of $69.86 billion, a P/E ratio of 22.01, a PEG ratio of 2.30 and a beta of 0.52. American Electric Power Company, Inc. has a 12 month low of $105.70 and a 12 month high of $140.58.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same period last year, the company earned $1.43 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Sell-side analysts predict that American Electric Power Company, Inc. will post 6.35 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.95 dividend. The ex-dividend date is Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.0%. American Electric Power’s dividend payout ratio is presently 65.18%.

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.