First Financial Bankshares Inc. has raised its holdings in American Electric Power Company, Inc. (NASDAQ: AEP) by 0.7% during the third quarter, according to a recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC). The bank now owns 633,084 shares of AEP after acquiring an additional 4,145 shares within the quarter. This investment represents approximately 1.5% of First Financial Bankshares’ overall portfolio, making AEP its 24th largest holding, valued at roughly $71.2 million.
Multiple institutional investors have also adjusted their positions in American Electric Power. Brighton Jones LLC increased its stake by 11.5% in the fourth quarter, now holding 10,601 shares valued at approximately $978,000. Acadian Asset Management LLC entered a new position in AEP during the first quarter, worth $320,000. Sivia Capital Partners LLC significantly boosted its stake by 149.5% in the second quarter, now owning 4,891 shares valued at around $507,000. Ethic Inc. also raised its ownership by 10.8%, totaling 12,244 shares worth about $1.3 million.
As of now, institutional investors hold 75.24% of American Electric Power’s stock, indicating strong institutional confidence in the company.
Analyst Ratings and Stock Performance
Several research firms have recently provided insights on AEP. Mizuho raised its target price from $123.00 to $130.00 while maintaining a “neutral” rating as of February 13. Conversely, Bank of America downgraded the company from “buy” to “neutral,” lowering its price target from $131.00 to $122.00 in a note dated January 12. Weiss Ratings reaffirmed a “buy” rating on AEP shares on January 21.
Stock performance metrics reveal that AEP opened at $132.03 on Tuesday. The stock boasts a market capitalization of $71.41 billion and has a P/E ratio of 19.71. Over the past year, AEP’s stock has ranged from a low of $97.46 to a high of $132.78. The company reported earnings of $1.19 per share for the latest quarter, exceeding analyst expectations of $1.15.
Dividend Announcements and Insider Activity
American Electric Power announced a quarterly dividend of $0.95 per share, payable on March 10 to shareholders on record as of February 10. This dividend translates to an annualized payout of $3.80 and a yield of 2.9%.
In insider trading news, Director Benjamin G. S. Fowke III sold 5,000 shares of AEP stock on December 12 for $575,350, reducing his direct ownership to 25,898 shares, valued at approximately $2.98 million.
American Electric Power Company, headquartered in Columbus, Ohio, is a significant player in the electric utility sector. The company is involved in the generation, transmission, and distribution of electricity, operating a diverse array of power plants and a comprehensive high-voltage transmission network. AEP provides services to retail customers through regulated subsidiaries and supplies wholesale power across multiple regions in the United States.
