Citizens Financial Group Inc. RI bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 11,520 shares of the company’s stock, valued at approximately $1,576,000.
Other hedge funds have also bought and sold shares of the company. HITE Hedge Asset Management LLC purchased a new stake in American Electric Power in the fourth quarter worth $32,032,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in American Electric Power by 2.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 293,033 shares of the company’s stock valued at $33,869,000 after buying an additional 8,302 shares during the period. Vanguard Group Inc. boosted its holdings in shares of American Electric Power by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 52,496,895 shares of the company’s stock valued at $6,053,417,000 after buying an additional 828,588 shares in the last quarter. Dockside LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at $1,912,000. Finally, Barclays PLC grew its position in shares of American Electric Power by 0.5% in the 4th quarter. Barclays PLC now owns 10,626,841 shares of the company’s stock worth $1,225,381,000 after buying an additional 57,807 shares during the period. 75.24% of the stock is currently owned by institutional investors.
American Electric Power Price Performance
NASDAQ AEP opened at $126.35 on Wednesday. The stock has a market capitalization of $68.78 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.25 and a beta of 0.52. American Electric Power Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.50 and a quick ratio of 0.38. The business’s fifty day moving average price is $131.28 and its 200-day moving average price is $130.46.
American Electric Power Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, August 10th. American Electric Power’s payout ratio is presently 65.18%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. 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 report on Wednesday, July 1st. Citigroup cut their price target on American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Morgan Stanley raised their price objective on American Electric Power from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on American Electric Power from $144.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Truist Financial dropped their target price on American Electric Power from $146.00 to $139.00 and set a “buy” rating on the stock in a report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.38.
Check Out Our Latest Research Report on AEP
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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