Quantum Portfolio Management LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,549 shares of the company’s stock, valued at approximately $596,000.
Other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its position in shares of American Electric Power by 72.2% in the fourth quarter. Activest Wealth Management now owns 217 shares of the company’s stock worth $25,000 after buying an additional 91 shares during the period. Optima Capital LLC acquired a new position in American Electric Power during the fourth quarter valued at $26,000. Rakuten Securities Inc. lifted its stake in American Electric Power by 7,300.0% in the 4th quarter. Rakuten Securities Inc. now owns 222 shares of the company’s stock worth $26,000 after acquiring an additional 219 shares in the last quarter. Legacy Wealth Managment LLC ID lifted its stake in American Electric Power by 200.0% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company’s stock worth $27,000 after acquiring an additional 154 shares in the last quarter. Finally, Basepoint Wealth LLC acquired a new stake in American Electric Power during the 4th quarter worth about $27,000. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Trading Down 1.2%
NASDAQ:AEP opened at $135.90 on Thursday. The stock’s 50 day moving average price is $131.30 and its 200 day moving average price is $127.78. American Electric Power Company, Inc. has a 52 week low of $103.03 and a 52 week high of $140.58. The company has a market capitalization of $73.94 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.52 and a beta of 0.52. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.53.
American Electric Power Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power’s payout ratio is presently 55.80%.
Wall Street Analyst Weigh In
AEP has been the topic of several research analyst reports. Barclays lifted their target price on American Electric Power from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their price objective on shares of American Electric Power from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Scotiabank increased their target price on shares of American Electric Power from $131.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Jefferies Financial Group lifted their target price on shares of American Electric Power from $147.00 to $154.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Mizuho boosted 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. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.38.
Check Out Our Latest Stock Analysis on American Electric Power
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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