Nissay Asset Management Corp Japan boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,304 shares of the company’s stock after acquiring an additional 11,189 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in American Electric Power were worth $22,068,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC grew its stake in American Electric Power by 118.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 194 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Costello Asset Management INC boosted its holdings in shares of American Electric Power by 100.0% in the first quarter. Costello Asset Management INC now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Parvin Asset Management LLC bought a new position in American Electric Power in the second quarter worth approximately $27,000. Caitlin John LLC bought a new position in American Electric Power in the second quarter worth approximately $27,000. Finally, Activest Wealth Management increased 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 purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.
American Electric Power Trading Down 0.3%
AEP opened at $122.31 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. The firm has a market cap of $66.59 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.24 and a beta of 0.52. American Electric Power Company, Inc. has a 12 month low of $105.70 and a 12 month high of $140.58. The stock has a fifty day moving average price of $130.42 and a 200-day moving average price of $130.57.
American Electric Power Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a $0.95 dividend. 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 presently 65.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on AEP shares. Truist Financial lowered their target price on American Electric Power from $146.00 to $139.00 and set a “buy” rating for the company in a report on Monday, August 17th. Citigroup cut their price target on American Electric Power from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group upped their price objective 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. Finally, Scotiabank increased 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 report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, American Electric Power presently has an average rating of “Moderate Buy” and a consensus target price of $140.19.
Get Our Latest Analysis on AEP
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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