Principal Financial Group Inc. boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,029 shares of the company's stock after buying an additional 19,081 shares during the period. Principal Financial Group Inc. owned 0.12% of American Electric Power worth $65,667,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AEP. Pathway Financial Advisers LLC lifted its stake in shares of American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company's stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. National Bank of Canada FI lifted its stake in American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company's stock worth $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Zimmer Partners LP grew its position in shares of American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company's stock valued at $83,948,000 after purchasing an additional 831,235 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company's stock valued at $739,303,000 after purchasing an additional 776,965 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AEP has been the topic of a number of recent research reports. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a research note on Thursday. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research report on Thursday. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, American Electric Power presently has an average rating of "Hold" and an average target price of $98.27.
Get Our Latest Analysis on American Electric Power
American Electric Power Trading Up 1.0 %
NASDAQ:AEP traded up $0.99 during trading hours on Friday, reaching $96.40. 2,581,086 shares of the stock were exchanged, compared to its average volume of 3,061,076. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average of $100.51 and a two-hundred day moving average of $94.99. The company has a market capitalization of $51.30 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.74 and a beta of 0.55.
American Electric Power Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. American Electric Power's dividend payout ratio is 74.55%.
American Electric Power 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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