SCP Investment LP raised its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 142.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,800 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. SCP Investment LP’s holdings in American Electric Power were worth $784,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position 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 during the period. State Street Corp grew its position in American Electric Power by 1.4% in the third quarter. State Street Corp now owns 28,922,911 shares of the company’s stock worth $3,253,827,000 after acquiring an additional 406,445 shares during the period. Geode Capital Management LLC grew its position 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 worth $1,587,841,000 after acquiring an additional 83,285 shares during the period. Ameriprise Financial Inc. increased its stake in American Electric Power by 26.8% during the third quarter. Ameriprise Financial Inc. now owns 6,084,813 shares of the company’s stock worth $684,772,000 after acquiring an additional 1,285,279 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in American Electric Power by 105.6% during the third quarter. Victory Capital Management Inc. now owns 5,379,342 shares of the company’s stock worth $595,243,000 after acquiring an additional 2,763,328 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.
American Electric Power Trading Up 2.7%
Shares of NASDAQ AEP opened at $127.11 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $69.16 billion, a PE ratio of 18.67, a PEG ratio of 2.47 and a beta of 0.53. American Electric Power Company, Inc. has a twelve month low of $100.72 and a twelve month high of $139.44. The stock has a fifty day simple moving average of $131.53 and a 200-day simple moving average of $125.32.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 8th. American Electric Power’s dividend payout ratio is presently 55.80%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AEP. Scotiabank upped their price target on 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. Argus raised their price objective on American Electric Power from $128.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Mizuho boosted their price objective 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. Wells Fargo & Company upped their target price on shares of American Electric Power from $144.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. 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 research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.10.
View Our Latest Stock Report 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.
Further Reading
- Five stocks we like better than American Electric Power
- Marvell Stock Soars on NVIDIA’s Trillion-Dollar Nod
- FirstCash Turns Pawn Into a Growth Machine
- HubSpot Just Crushed the Bear Case—Is a Bigger Rally Ahead?
- Aggressive Insider Buying Signals Opportunity in 3 Risky Stocks
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.
