Los Angeles Capital Management LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 348.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,312 shares of the company's stock after buying an additional 24,329 shares during the quarter. Los Angeles Capital Management LLC's holdings in American Electric Power were worth $3,213,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Vanguard Group Inc. grew its holdings in shares of American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company's stock worth $4,273,181,000 after purchasing an additional 405,114 shares during the period. Lazard Asset Management LLC grew its holdings in shares of American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company's stock worth $739,303,000 after purchasing an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company's stock worth $466,191,000 after purchasing an additional 341,846 shares during the period. Envestnet Asset Management Inc. lifted its position in American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company's stock worth $296,433,000 after acquiring an additional 35,769 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company's stock worth $193,541,000 after acquiring an additional 1,927,234 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Stock Performance
Shares of NASDAQ AEP traded up $0.37 during trading on Wednesday, reaching $93.33. The stock had a trading volume of 2,561,477 shares, compared to its average volume of 3,154,297. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock has a market cap of $49.66 billion, a PE ratio of 18.60, a P/E/G ratio of 2.65 and a beta of 0.55. The firm's 50 day moving average price is $100.23 and its two-hundred day moving average price is $95.10.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power's payout ratio is 74.55%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on AEP shares. Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on American Electric Power from $111.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 price target on the stock. Bank of America boosted their price target on American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company reduced their price target on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.27.
View Our Latest Stock Report on AEP
American Electric Power Company Profile
(
Free Report)
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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