Jones Financial Companies Lllp bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 9,133 shares of the company’s stock, valued at approximately $1,249,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its stake in American Electric Power by 118.0% in the second quarter. Elevation Wealth Partners LLC now owns 194 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Costello Asset Management INC lifted its position in shares of American Electric Power by 100.0% during the 1st quarter. Costello Asset Management INC now owns 200 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of American Electric Power by 72.2% in the 4th quarter. Activest Wealth Management now owns 217 shares of the company’s stock valued at $25,000 after buying an additional 91 shares in the last quarter. Union Savings Bank acquired a new position in shares of American Electric Power in the 4th quarter valued at $27,000. Finally, Legacy Wealth Managment LLC ID grew its position in shares of American Electric Power by 200.0% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 231 shares of the company’s stock valued at $27,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.
American Electric Power Price Performance
Shares of AEP opened at $121.98 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $105.70 and a fifty-two week high of $140.58. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, August 10th. American Electric Power’s dividend payout ratio (DPR) is 65.18%.
Wall Street Analyst Weigh In
AEP has been the topic of several research analyst reports. Jefferies Financial Group lifted their price target on shares of American Electric Power from $147.00 to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Mizuho decreased their price objective on shares of American Electric Power from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Truist Financial dropped their price objective on American Electric Power from $146.00 to $139.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Scotiabank lifted their target price on 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. Finally, Wall Street Zen downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued 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 $140.19.
View Our Latest Stock Analysis on AEP
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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