Dearborn Partners LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,576 shares of the company’s stock, valued at approximately $600,000.
Several other large investors also recently made changes to their positions in AEP. BlackRock Inc. bought a new position in shares of American Electric Power in the second quarter valued at about $6,980,601,000. GQG Partners LLC bought a new stake in American Electric Power during the 2nd quarter worth about $1,404,094,000. Bank of New York Mellon Corp bought a new stake in American Electric Power during the 2nd quarter worth about $495,495,000. Soroban Capital Partners LP increased its position in American Electric Power by 176.3% in the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after acquiring an additional 2,555,415 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in American Electric Power by 8,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,219,198 shares of the company’s stock valued at $290,894,000 after acquiring an additional 2,194,198 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.
American Electric Power Trading Up 0.9%
AEP opened at $121.98 on Tuesday. 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 company has a market cap of $66.41 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. The firm has a 50 day simple moving average of $130.86 and a 200 day simple moving average of $130.58. American Electric Power Company, Inc. has a fifty-two week low of $105.70 and a fifty-two week high of $140.58.
American Electric Power Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s payout ratio is 65.18%.
Analysts Set New Price Targets
AEP has been the topic of a number of research reports. Scotiabank upped their target price on shares of American Electric Power from $131.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. TD Cowen raised their price target 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. LADENBURG THALM/SH SH lowered their price target on shares of American Electric Power from $148.00 to $143.00 and set a “buy” rating for the company in a report on Thursday, June 18th. Citigroup dropped their price objective on shares of American Electric Power from $148.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. reduced their price objective on American Electric Power from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.19.
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.
Read More
- Five stocks we like better than American Electric Power
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
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.
