Kestra Advisory Services LLC increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,464 shares of the company’s stock after acquiring an additional 23,279 shares during the quarter. Kestra Advisory Services LLC’s holdings in American Electric Power were worth $18,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after purchasing an additional 1,095 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of American Electric Power in the 1st quarter worth approximately $320,000. Sivia Capital Partners LLC increased its position 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 valued at $507,000 after buying an additional 2,931 shares in the last quarter. Gamco Investors INC. ET AL increased its position 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 valued at $260,000 after buying an additional 105 shares in the last quarter. Finally, AXA S.A. raised its stake in American Electric Power by 95.7% during the second quarter. AXA S.A. now owns 79,111 shares of the company’s stock valued at $8,209,000 after buying an additional 38,684 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Stock Up 1.2%
AEP stock traded up $1.58 during midday trading on Friday, hitting $135.43. The company’s stock had a trading volume of 3,220,907 shares, compared to its average volume of 5,694,446. The firm’s 50-day moving average is $131.29 and its 200-day moving average is $127.97. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 12 month low of $103.64 and a 12 month high of $140.58. The company has a market cap of $73.69 billion, a PE ratio of 19.89, a P/E/G ratio of 2.48 and a beta of 0.52.
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 issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 8th. American Electric Power’s dividend payout ratio (DPR) is presently 55.80%.
Analyst Upgrades and Downgrades
Several research firms have commented on AEP. Jefferies Financial Group boosted their target price on American Electric Power from $147.00 to $154.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Barclays raised their price target on American Electric Power from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group upped their price target on shares of American Electric Power from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Raymond James Financial reissued an “outperform” rating and set a $144.00 price objective on shares of American Electric Power in a research report on Friday, May 8th. Finally, Scotiabank raised their price objective on shares of American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.38.
Check Out Our Latest Research Report on American Electric Power
American Electric Power Company 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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