WealthPlan Investment Management LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 620.4% during the third quarter, HoldingsChannel.com reports. The firm owned 3,206 shares of the company’s stock after purchasing an additional 2,761 shares during the period. WealthPlan Investment Management LLC’s holdings in American Electric Power were worth $241,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in American Electric Power in the 1st quarter worth about $27,000. True Wealth Design LLC acquired a new stake in American Electric Power in the fourth quarter valued at approximately $28,000. Fairfield Bush & CO. acquired a new stake in American Electric Power in the second quarter valued at approximately $26,000. Chilton Capital Management LLC acquired a new stake in American Electric Power in the first quarter valued at approximately $28,000. Finally, FSC Wealth Advisors LLC boosted its stake in American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. 74.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AEP has been the subject of a number of research analyst reports. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Thursday, January 11th. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price for the company. in a report on Monday, January 22nd. Morgan Stanley raised their target price on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, November 21st. Barclays lifted their price objective on shares of American Electric Power from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets cut their price objective on shares of American Electric Power from $94.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, American Electric Power currently has an average rating of “Moderate Buy” and an average target price of $88.73.
American Electric Power Stock Up 1.2 %
Shares of NASDAQ AEP opened at $77.59 on Tuesday. The company’s 50-day simple moving average is $80.15 and its 200-day simple moving average is $78.67. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $96.05. The firm has a market cap of $40.80 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.45.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 9th will be given a $0.88 dividend. The ex-dividend date is Thursday, February 8th. This represents a $3.52 annualized dividend and a dividend yield of 4.54%. American Electric Power’s dividend payout ratio (DPR) is 80.73%.
About American Electric Power
American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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