Louisiana State Employees Retirement System acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,100 shares of the company’s stock, valued at approximately $8,271,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its position in American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after acquiring an additional 1,095 shares during the period. Acadian Asset Management LLC acquired a new position in shares of American Electric Power during the 1st quarter worth about $320,000. Sivia Capital Partners LLC lifted its stake in American Electric Power by 149.5% in 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 lifted its stake in American Electric Power by 4.4% in 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. boosted its holdings in American Electric Power by 95.7% in the 2nd quarter. AXA S.A. now owns 79,111 shares of the company’s stock worth $8,209,000 after buying an additional 38,684 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Stock Up 1.5%
AEP stock opened at $137.00 on Friday. 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 firm has a 50-day moving average of $130.69 and a two-hundred day moving average of $126.37. American Electric Power Company, Inc. has a 12 month low of $101.15 and a 12 month high of $139.44. The company has a market cap of $74.54 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.69 and a beta of 0.53.
American Electric Power Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.8%. American Electric Power’s payout ratio is 55.80%.
Analyst Upgrades and Downgrades
AEP has been the subject of several research reports. Wells Fargo & Company boosted their price objective on American Electric Power from $144.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on American Electric Power from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Mizuho boosted their price target on American Electric Power from $130.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on American Electric Power from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $144.00 target price on shares of American Electric Power in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.19.
Read Our Latest Stock Analysis 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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