Aventail Capital Group LP bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 491,288 shares of the company’s stock, valued at approximately $56,650,000. American Electric Power accounts for about 3.3% of Aventail Capital Group LP’s portfolio, making the stock its 8th largest holding.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of American Electric Power by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company’s stock worth $6,053,417,000 after purchasing an additional 828,588 shares during the last quarter. State Street Corp boosted its holdings in American Electric Power by 5.2% in the fourth quarter. State Street Corp now owns 30,437,776 shares of the company’s stock valued at $3,509,780,000 after acquiring an additional 1,514,865 shares in the last quarter. Morgan Stanley boosted its holdings in American Electric Power by 1.9% in the fourth quarter. Morgan Stanley now owns 14,661,858 shares of the company’s stock valued at $1,690,659,000 after acquiring an additional 271,879 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Electric Power by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 13,823,744 shares of the company’s stock valued at $1,587,841,000 after acquiring an additional 83,285 shares in the last quarter. Finally, Barclays PLC boosted its holdings in American Electric Power by 0.5% in the fourth quarter. Barclays PLC now owns 10,626,841 shares of the company’s stock valued at $1,225,381,000 after acquiring an additional 57,807 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.
American Electric Power Price Performance
AEP opened at $128.27 on Thursday. The stock has a 50-day moving average price of $131.07 and a 200-day moving average price of $125.84. 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 firm has a market cap of $69.79 billion, a PE ratio of 18.84, a P/E/G ratio of 2.59 and a beta of 0.53. American Electric Power Company, Inc. has a 1 year low of $100.80 and a 1 year high of $139.44.
American Electric Power Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power’s payout ratio is currently 55.80%.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Mizuho lifted their price target on shares of American Electric Power from $130.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Seaport Research Partners upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Monday, April 20th. Scotiabank lifted their price target on shares of American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. UBS Group lifted their price target on shares of American Electric Power from $132.00 to $135.00 in a report on Monday, March 9th. Finally, Citigroup lifted their price target on shares of American Electric Power from $132.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.10.
Check Out Our Latest Analysis on AEP
About American Electric Power
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.
Featured Stories
- Five stocks we like better than American Electric Power
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP – Free Report).
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.
