Leonteq Securities AG acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,318 shares of the company’s stock, valued at approximately $613,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in shares of American Electric Power by 36.2% during the fourth quarter. IFP Advisors Inc now owns 17,276 shares of the company’s stock valued at $1,992,000 after acquiring an additional 4,590 shares during the period. Midwest Professional Planners LTD. lifted its holdings in shares of American Electric Power by 5.8% during the fourth quarter. Midwest Professional Planners LTD. now owns 6,994 shares of the company’s stock valued at $806,000 after acquiring an additional 383 shares during the period. Intrust Bank NA lifted its holdings in shares of American Electric Power by 4.4% during the fourth quarter. Intrust Bank NA now owns 21,027 shares of the company’s stock valued at $2,425,000 after acquiring an additional 893 shares during the period. First Business Financial Services Inc. lifted its holdings in shares of American Electric Power by 6.8% during the fourth quarter. First Business Financial Services Inc. now owns 11,322 shares of the company’s stock valued at $1,306,000 after acquiring an additional 723 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of American Electric Power by 8.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 264,353 shares of the company’s stock valued at $30,482,000 after acquiring an additional 19,816 shares during the period. 75.24% of the stock is owned by institutional investors.
American Electric Power Stock Up 1.5%
Shares of NASDAQ AEP opened at $131.59 on Friday. The firm’s 50-day simple moving average is $131.99 and its 200 day simple moving average is $124.98. The company has a market cap of $71.60 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 12-month low of $100.72 and a 12-month high of $139.44.
American Electric Power Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, May 8th. This represents a $3.80 annualized dividend and a yield of 2.9%. American Electric Power’s dividend payout ratio is 55.80%.
Analyst Ratings Changes
AEP has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on American Electric Power from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price objective on shares of American Electric Power in a report on Friday, February 20th. Seaport Research Partners upgraded American Electric Power from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Monday, April 20th. Argus lifted their price target on American Electric Power from $128.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, UBS Group upped their price target on shares of American Electric Power from $132.00 to $135.00 in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.24.
Get Our Latest Report on American Electric Power
Insider Activity
In related news, EVP Kelly J. Ferneau sold 1,351 shares of American Electric Power stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $131.46, for a total value of $177,602.46. Following the completion of the sale, the executive vice president directly owned 15,410 shares in the company, valued at $2,025,798.60. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Phillip R. Ulrich sold 4,106 shares of American Electric Power stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $132.08, for a total value of $542,320.48. Following the completion of the sale, the executive vice president owned 42,263 shares of the company’s stock, valued at approximately $5,582,097.04. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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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