Nations Financial Group Inc. IA ADV increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,411 shares of the company’s stock after purchasing an additional 4,718 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in American Electric Power were worth $3,855,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AEP. Activest Wealth Management raised its holdings in American Electric Power by 72.2% during the 4th 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. Dogwood Wealth Management LLC boosted its holdings in shares of American Electric Power by 330.2% in the third quarter. Dogwood Wealth Management LLC now owns 228 shares of the company’s stock valued at $26,000 after buying an additional 175 shares during the period. Optima Capital LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its position in shares of American Electric Power by 7,300.0% during the fourth 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. Finally, Legacy Wealth Managment LLC ID increased its position in shares of American Electric Power by 200.0% during the fourth 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. 75.24% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power Trading Up 0.0%
Shares of NASDAQ:AEP opened at $127.73 on Friday. American Electric Power Company, Inc. has a 52-week low of $101.11 and a 52-week high of $139.44. The company has a market capitalization of $69.50 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 2.55 and a beta of 0.53. The company has a 50-day simple moving average of $130.83 and a 200 day simple moving average of $125.89. 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 announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 8th. American Electric Power’s payout ratio is currently 55.80%.
Analyst Upgrades and Downgrades
AEP has been the topic of several research reports. 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 research report on Friday, May 15th. Truist Financial lowered their target price on American Electric Power from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, May 29th. LADENBURG THALM/SH SH lowered their target price on American Electric Power from $148.00 to $143.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company lifted their price target 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, Citigroup boosted their price target on American Electric Power from $132.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.
View Our Latest Stock Analysis on American Electric Power
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.
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