CWA Asset Management Group LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,775 shares of the company's stock, valued at approximately $1,208,000.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company's stock valued at $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its position in 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% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company's stock worth $466,191,000 after acquiring an additional 341,846 shares during the period. Envestnet Asset Management Inc. lifted its stake in American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company's stock valued at $296,433,000 after buying an additional 35,769 shares in the last quarter. Finally, 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 valued at $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday. Barclays boosted 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 report on Tuesday, October 15th. Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.27.
View Our Latest Research Report on American Electric Power
American Electric Power Trading Down 1.8 %
American Electric Power stock traded down $1.71 during midday trading on Monday, hitting $94.69. 1,857,204 shares of the stock were exchanged, compared to its average volume of 3,148,371. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The stock has a market capitalization of $50.39 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.74 and a beta of 0.55. The stock's 50-day simple moving average is $100.51 and its 200 day simple moving average is $94.99. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.93%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's payout ratio is currently 74.55%.
About American Electric Power
(
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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