The Vanguard Group, Inc. recently announced the acquisition of new stake in American Electric Power Company Inc. (NASDAQ:AEP). The institutional investor has increased its shareholding in the Utilities company by 0.09% to 46.39 million shares with purchase of 41787.0 shares. This fresh investment now brings its stake to 8.82% valued currently at $3.77 billion. In addition, BlackRock Fund Advisors raised its holdings by 22732.0 to 29.11 million shares. And Wellington Management Co. LLP has lifted its position by 14.36% or 3.59 million shares – to 28.59 million shares.
Currently, there are 525.88M common shares owned by the public and among those 525.52M shares have been available to trade.
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Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 263,259 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 176,849 shares.
The top 3 mutual fund holders in American Electric Power Company Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 16.19 million shares of the company’s stock, all valued at over $1.31 billion. The company bought an additional 50348.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard 500 Index Fund bought 0.28 million shares to see its total holdings expand to 12.84 million shares valued at over $1.04 billion and representing 2.44% of the shares outstanding. Invesco QQQ Trust sold 24824.0 shares to bring its total holdings to over 9.67 million shares at a value of $785.49 million. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
However, the script later moved the day high at 78.25, up 1.10%. The company’s stock has a 5-day price change of -3.54% and 6.49% over the past three months. AEP shares are trading -3.83% year to date (YTD), with the 12-month market performance down to -15.25% lower. It has a 12-month low price of $69.38 and touched a high of $96.05 over the same period. AEP has an average intraday trading volume of 3.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.89%, -2.49%, and -5.04% respectively.
Institutional ownership of American Electric Power Company Inc. (NASDAQ: AEP) shares accounts for 76.27% of the company’s 525.88M shares outstanding. Mutual fund holders own 30.89%, while other institutional holders and individual stakeholders account for 45.76% and 0.21% respectively.
It has a market capitalization of $41.08B and a beta (3y monthly) value of 0.49. The stock’s trailing 12-month PE ratio is 17.95, while the earnings-per-share (ttm) stands at $4.35. The company has a PEG of 4.85 and a Quick Ratio of 0.44 with the debt-to-equity ratio at 1.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 1.57% over the month.
Analysts forecast that American Electric Power Company Inc. (AEP) will achieve an EPS of $1.27 for the current quarter, $1.4 for the next quarter and $5.6 for 2024. The lowest estimate earnings-per-share for the quarter is $1.08 while analysts give the company a high EPS estimate of $1.41. Comparatively, EPS for the current quarter was $1.05 a year ago. Earnings per share for the fiscal year are expected to increase by 3.73%, and 6.32% over the next financial year. EPS should grow at an annualized rate of 3.70% over the next five years, compared to 2.96% over the past 5-year period.
Looking at the support for the AEP, a number of firms have released research notes about the stock. Guggenheim stated their Neutral rating for the stock in a research note on January 22, 2024, with the firm’s price target at $81.
