Asset Management One Co. Ltd., one of the largest institutional investors in Japan, has disclosed a 4.8% decrease in its holdings of American Electric Power Company, Inc. (AEP) shares in the fourth quarter of 2022, according to its recent disclosure with the Securities & Exchange Commission (SEC). As per the disclosure, the institutional investor sold a total of 12,585 shares and currently owns 247,192 shares worth $23.7 million as per its most recent SEC filing.
The utility company has received price target revisions from several research analysts over recent months. Morgan Stanley upped AEP’s price target from $101 to $107 and gave it an “overweight” rating on April 20th. Meanwhile, Mizuho lowered their price target from $101 to $100 earlier this month. JPMorgan Chase & Co., RBC, and Wells Fargo & Company also cut their respective price targets by varying degrees over the past couple of months.
As of April 26th, AEP’s stock opened at $94.38 with a market cap of $48.55 billion and a P/E ratio of 20.93. The firm has a 50-day simple moving average of $91 and a two-hundred-day simple moving average of $92.02 whereas its one-year low is set at $80.30 and high stands at $105.60 respectively.
Having seen mixed signals from various research analysts along with Asset Management One Co.’s reduction in holdings during Q4-2022 thus far this year shows how dynamic investment activities can impact large corporations like American Electric Power Company Inc within electric power industry was hit hard by COVID-19 due to recessionary economic impact curbing electricity demand among commercial premises including industries such as Automotives which are some major consumers that impact market demand for utilities from such manufacturers given these conditions; careful considerations are required for predicting a clearer outlook of the future on this particular market segment.
Major Shareholder Changes and Transactions Seen at American Electric Power Company (AEP)
American Electric Power Company, Inc. (AEP), a major electricity utility company based in the United States, has seen a number of recent changes in its shareholder makeup and stock transactions. According to recent reports, several hedge funds and institutional investors have bought and sold shares in AEP, with some increasing their holdings significantly over the past few quarters. Among them are Trifecta Capital Advisors LLC, Penserra Capital Management LLC, Baldrige Asset Management LLC, American National Bank, and Mizuho Securities Co., Ltd.
Meanwhile, two AEP insiders have recently sold shares in the company. Executive Vice President David Matthew Feinberg sold 1,004 shares for a total value of $90,751.56 on February 22nd this year; while insider Nicholas K. Akins sold 6,977 shares worth $630k on the same date. As of April 26th 2023, insiders have collectively sold almost $6.1 million worth of AEP stock during the previous three months alone.
On average analysts who cover AEP rate it as ‘Hold’ (1 analyst rating it as ‘Sell,’ five as ‘Hold,’ and six as ‘Buy’); with an average consensus price target of $99.19 according to Bloomberg data.
AEP last reported quarterly earnings results on February 23rd this year; which showed an earnings per share (EPS) off $1.05 beating estimates by $0.06 cents.Total revenue was $4.88bn for the quarter which beat estimates by approximately around .62bn – this is equivalent to roughly a fifteen percent surprise within their revenue numbers for the period posted.
American Electric Power also announced a quarterly dividend of $.83/ share to be paid out to shareholders on June 9th; which represents an annualized dividend of $3.32 per share yielding approximately about 3.52% return.
These recent developments in AEP’s ownership and transactions highlight some of the changes in the company’s investment landscape, and may provide insights into future trends affecting the energy industry as a whole.