ABC Arbitrage SA bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,734 shares of the company’s stock, valued at approximately $2,391,000.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of American Electric Power by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company’s stock worth $6,053,417,000 after buying an additional 828,588 shares during the last quarter. State Street Corp lifted its holdings in shares of American Electric Power by 1.4% during the 3rd quarter. State Street Corp now owns 28,922,911 shares of the company’s stock valued at $3,253,827,000 after purchasing an additional 406,445 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of American Electric Power by 26.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,084,813 shares of the company’s stock worth $684,772,000 after purchasing an additional 1,285,279 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of American Electric Power by 105.6% in the 3rd quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock worth $595,243,000 after purchasing an additional 2,763,328 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in American Electric Power by 8.0% during the 3rd quarter. Alliancebernstein L.P. now owns 5,223,848 shares of the company’s stock worth $587,683,000 after buying an additional 388,540 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.
American Electric Power Stock Up 0.4%
NASDAQ:AEP opened at $130.70 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.53 and a quick ratio of 0.39. The company’s fifty day moving average price is $132.62 and its 200-day moving average price is $124.34. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $139.44. The firm has a market capitalization of $71.11 billion, a P/E ratio of 19.19, a PEG ratio of 3.05 and a beta of 0.56.
American Electric Power Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, May 8th. American Electric Power’s payout ratio is 55.80%.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. UBS Group upped their target price on American Electric Power from $132.00 to $135.00 in a research report on Monday, March 9th. Scotiabank boosted their price target on American Electric Power from $131.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $144.00 price objective on shares of American Electric Power in a report on Friday. Wells Fargo & Company increased their price objective on shares of American Electric Power from $144.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $139.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.29.
Read Our Latest Research Report on AEP
Insider Transactions at American Electric Power
In related news, EVP Phillip R. Ulrich sold 4,106 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $132.08, for a total transaction of $542,320.48. Following the sale, the executive vice president directly owned 42,263 shares of the company’s stock, valued at $5,582,097.04. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelly J. Ferneau sold 1,351 shares of American Electric Power stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $131.46, for a total transaction of $177,602.46. Following the transaction, the executive vice president directly owned 15,410 shares of the company’s stock, valued at approximately $2,025,798.60. This trade represents a 8.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.
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.
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