Sumitomo Life Insurance Co. Purchases Shares of 7,502 American Electric Power Company, Inc. $AEP

Sumitomo Life Insurance Co. acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,502 shares of the company’s stock, valued at approximately $1,026,000.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in American Electric Power in the 2nd quarter valued at about $6,980,601,000. Bank of New York Mellon Corp bought a new position in American Electric Power in the second quarter worth approximately $495,495,000. Soroban Capital Partners LP boosted its holdings in American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after acquiring an additional 2,555,415 shares in the last quarter. Janus Henderson Group PLC grew its stake in American Electric Power by 8,776.8% in the first quarter. Janus Henderson Group PLC now owns 2,219,198 shares of the company’s stock valued at $290,894,000 after acquiring an additional 2,194,198 shares during the period. Finally, Deutsche Bank AG acquired a new stake in American Electric Power in the second quarter valued at approximately $298,806,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $120.94 on Friday. The company has a market cap of $65.84 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. American Electric Power Company, Inc. has a 52 week low of $105.70 and a 52 week high of $140.58. The business has a 50 day moving average price of $131.01 and a 200-day moving average price of $130.48. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 1.44.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, July 30th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.34 billion. American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 6.37 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.95 per share. The ex-dividend date is Monday, August 10th. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio (DPR) is 65.18%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEP. Truist Financial lowered their target price on American Electric Power from $146.00 to $139.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Citigroup reduced their price target on shares of American Electric Power from $148.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Scotiabank boosted their price target on shares of American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company raised their price objective on shares of American Electric Power from $144.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.19.

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.