Nykredit A S bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 68,191 shares of the company’s stock, valued at approximately $9,329,000.
A number of other large investors have also made changes to their positions in the stock. HITE Hedge Asset Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at approximately $32,032,000. BlackRock Inc. purchased a new stake in shares of American Electric Power during the 2nd quarter valued at approximately $6,980,601,000. Dockside LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $1,912,000. Barclays PLC lifted 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 during the last quarter. Finally, Aigen Investment Management LP purchased a new position in American Electric Power in the fourth quarter worth approximately $2,318,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Stock Down 0.2%
Shares of NASDAQ AEP opened at $124.50 on Friday. The stock has a market cap of $67.78 billion, a P/E ratio of 21.36, a PEG ratio of 2.63 and a beta of 0.51. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. American Electric Power Company, Inc. has a 12-month low of $105.70 and a 12-month high of $140.58. The business’s fifty day simple moving average is $129.28 and its 200-day simple moving average is $130.55.
American Electric Power Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.95 dividend. The ex-dividend date is Monday, August 10th. This represents a $3.80 annualized dividend and a yield of 3.1%. American Electric Power’s dividend payout ratio is 65.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on AEP shares. Wall Street Zen cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. BMO Capital Markets lowered their price target on American Electric Power from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. TD Cowen boosted their price objective on shares of American Electric Power from $141.00 to $148.00 and gave the company a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group upped 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 report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Electric Power from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Thirteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.19.
Read 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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