Bank of Nova Scotia Boosts Stake in American Electric Power

The Canadian bank increased its holdings in the utility company by 129% in the third quarter.

Mar. 17, 2026 at 7:34am

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Bank of Nova Scotia raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 129.2% in the 3rd quarter, according to the company's recent filing with the Securities & Exchange Commission. The fund now owns 250,889 shares of the company's stock, worth $28,225,000 at the end of the quarter.

Why it matters

This transaction highlights the continued investor interest in American Electric Power, one of the largest regulated utility companies in the United States. The increase in Bank of Nova Scotia's position suggests confidence in AEP's long-term growth prospects as it transitions its generation mix to include more renewable energy sources.

The details

Bank of Nova Scotia purchased an additional 141,418 shares of AEP during the third quarter, bringing its total holdings to 250,889 shares. This represents a 129.2% increase in the bank's stake in the utility company. AEP has been working to diversify its power generation portfolio, adding more wind, solar and natural gas capacity to complement its existing fleet of fossil fuel and nuclear plants.

  • Bank of Nova Scotia made the share purchases in the 3rd quarter of 2026.

The players

Bank of Nova Scotia

A major Canadian bank and financial services company.

American Electric Power Company, Inc. (AEP)

A major investor-owned electric utility headquartered in Columbus, Ohio that generates, transmits and distributes electricity across multiple states.

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The takeaway

The increased investment by Bank of Nova Scotia in American Electric Power reflects the utility's efforts to transition its generation mix and the continued appeal of regulated electric companies for institutional investors seeking stable, dividend-paying stocks.