Connor Clark & Lunn Investment Management Ltd. Buys New Stake in American Electric Power Company, Inc. $AEP

Connor Clark & Lunn Investment Management Ltd. bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,007 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EQ Wealth Advisors LLC bought a new stake in American Electric Power in the first quarter valued at about $25,000. Bank of New Hampshire bought a new stake in American Electric Power in the first quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in American Electric Power in the first quarter valued at about $33,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power in the fourth quarter valued at about $28,000. Finally, IMA Advisory Services Inc. bought a new stake in American Electric Power in the first quarter valued at about $35,000. Institutional investors own 75.24% of the company’s stock.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 24,173 shares of company stock worth $2,467,015 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of analyst reports. Citigroup upped their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley reduced their price target on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. UBS Group boosted their price target on shares of American Electric Power from $100.00 to $110.00 and gave the company a “sell” rating in a research report on Thursday, July 31st. Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $111.29.

American Electric Power Price Performance

Shares of AEP stock opened at $113.55 on Thursday. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The firm’s 50 day moving average is $107.35 and its 200-day moving average is $105.28. The firm has a market capitalization of $60.73 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.99 and a beta of 0.40. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the business earned $1.25 earnings per share. American Electric Power’s quarterly revenue was up 11.1% on a year-over-year basis. American Electric Power has set its FY 2025 guidance at 6.570-6.770 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power’s dividend payout ratio is presently 54.39%.

About American Electric Power

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.