OneDigital Investment Advisors LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,251 shares of the company’s stock, valued at approximately $1,676,000.
Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of American Electric Power in the 2nd quarter valued at $495,495,000. Soroban Capital Partners LP boosted its stake in American Electric Power by 176.3% during the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 shares during the period. Janus Henderson Group PLC boosted its stake in American Electric Power by 8,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,219,198 shares of the company’s stock worth $290,894,000 after purchasing an additional 2,194,198 shares during the period. State Street Corp boosted its stake in American Electric Power by 5.2% during the 4th quarter. State Street Corp now owns 30,437,776 shares of the company’s stock worth $3,509,780,000 after purchasing an additional 1,514,865 shares during the period. Finally, AQR Capital Management LLC grew its position in American Electric Power by 118.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company’s stock worth $286,692,000 after purchasing an additional 1,400,547 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Stock Performance
NASDAQ:AEP opened at $125.60 on Monday. 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 firm has a market cap of $68.38 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. The firm’s fifty day moving average price is $131.31 and its 200 day moving average price is $130.36. American Electric Power Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58.
American Electric Power Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, August 10th. American Electric Power’s payout ratio is 65.18%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of American Electric Power from $147.00 to $154.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley increased their target price on shares of American Electric Power from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. BMO Capital Markets lowered their price target on American Electric Power from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Truist Financial boosted their price target on American Electric Power from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, TD Cowen upped their price objective on American Electric Power from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Thirteen research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $140.71.
Check Out Our Latest Research Report on American Electric Power
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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