Brookfield Corp ON Reduces Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Brookfield Corp ON decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,774,517 shares of the company’s stock after selling 248,546 shares during the quarter. American Electric Power comprises 0.6% of Brookfield Corp ON’s portfolio, making the stock its 21st biggest holding. Brookfield Corp ON owned about 0.35% of American Electric Power worth $161,463,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AXS Investments LLC bought a new position in American Electric Power in the 4th quarter valued at $27,000. Dark Forest Capital Management LP grew its position in American Electric Power by 91.9% in the 4th quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock valued at $27,000 after acquiring an additional 136 shares during the last quarter. Horizon Bancorp Inc. IN grew its position in American Electric Power by 66.7% in the 1st quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Penserra Capital Management LLC bought a new position in American Electric Power in the 1st quarter valued at $27,000. Finally, True Wealth Design LLC bought a new position in American Electric Power in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several research analyst reports. BMO Capital Markets cut their price objective on American Electric Power from $103.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Mizuho lowered their target price on American Electric Power from $94.00 to $93.00 in a report on Thursday, July 6th. Barclays began coverage on American Electric Power in a report on Wednesday, August 23rd. They issued an “overweight” rating and a $88.00 target price for the company. Guggenheim lowered their target price on American Electric Power from $105.00 to $96.00 in a report on Friday, July 7th. Finally, StockNews.com cut American Electric Power from a “hold” rating to a “sell” rating in a report on Sunday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.97.

American Electric Power Trading Up 0.1 %

Shares of NASDAQ AEP opened at $77.80 on Tuesday. The business has a fifty day moving average price of $82.26 and a 200 day moving average price of $86.18. American Electric Power Company, Inc. has a 1-year low of $75.47 and a 1-year high of $105.60. The stock has a market capitalization of $40.08 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.48.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). American Electric Power had a net margin of 10.20% and a return on equity of 10.44%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, August 9th. American Electric Power’s dividend payout ratio is currently 86.01%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.