Perigon Wealth Management LLC Takes Position in American Electric Power Company, Inc. $AEP

Perigon Wealth Management LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the second quarter, Holdings Channel.com reports. The fund acquired 23,590 shares of the company’s stock, valued at approximately $3,227,000.

Other institutional investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its stake in American Electric Power by 118.0% during the second quarter. Elevation Wealth Partners LLC now owns 194 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Costello Asset Management INC raised its position in American Electric Power by 100.0% in the 1st quarter. Costello Asset Management INC now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Activest Wealth Management lifted its stake in American Electric Power by 72.2% in the fourth quarter. Activest Wealth Management now owns 217 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Rakuten Securities Inc. boosted its position in American Electric Power by 7,300.0% during the fourth quarter. Rakuten Securities Inc. now owns 222 shares of the company’s stock valued at $26,000 after buying an additional 219 shares during the period. Finally, Union Savings Bank purchased a new stake in American Electric Power during the fourth quarter valued at about $27,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.7%

AEP stock opened at $126.53 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $105.70 and a fifty-two week high of $140.58. The company has a market capitalization of $68.88 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. The business’s 50 day moving average price is $131.31 and its two-hundred day moving average price is $130.41. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $5.45 billion for 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 company’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 firm earned $1.43 earnings per share. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, analysts forecast 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 dividend on an annualized basis and a yield of 3.0%. American Electric Power’s payout ratio is presently 65.18%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEP. Wall Street Zen lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Barclays decreased their target price on shares of American Electric Power from $138.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley upped their price objective on shares of American Electric Power from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup cut their target price on American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Raymond James Financial restated an “outperform” rating and set a $144.00 price target on shares of American Electric Power in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.38.

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.