Eventide Asset Management LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 125.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,035 shares of the company’s stock after buying an additional 11,719 shares during the period. Eventide Asset Management LLC’s holdings in American Electric Power were worth $2,440,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in AEP. Brighton Jones LLC increased its stake in American Electric Power by 11.5% during the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after buying an additional 1,095 shares during the period. Acadian Asset Management LLC purchased a new stake in American Electric Power during the 1st quarter worth approximately $320,000. Sivia Capital Partners LLC increased its stake in American Electric Power by 149.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,891 shares of the company’s stock worth $507,000 after buying an additional 2,931 shares during the period. Gamco Investors INC. ET AL increased its stake in American Electric Power by 4.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,505 shares of the company’s stock worth $260,000 after buying an additional 105 shares during the period. Finally, AXA S.A. increased its stake in American Electric Power by 95.7% during the 2nd quarter. AXA S.A. now owns 79,111 shares of the company’s stock worth $8,209,000 after buying an additional 38,684 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Stock Performance
Shares of NASDAQ:AEP opened at $129.23 on Monday. American Electric Power Company, Inc. has a 52 week low of $100.72 and a 52 week high of $139.44. The company’s 50 day moving average is $131.28 and its two-hundred day moving average is $125.70. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. The company has a market cap of $70.31 billion, a PE ratio of 18.98, a P/E/G ratio of 2.58 and a beta of 0.53.
American Electric Power Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power’s dividend payout ratio (DPR) is 55.80%.
Analyst Ratings Changes
AEP has been the topic of a number of recent analyst reports. 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. Citigroup increased their price objective on shares of American Electric Power from $132.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Argus increased their price objective on shares of American Electric Power from $128.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of American Electric Power from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.10.
View Our Latest Analysis on AEP
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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