Gateway Investment Advisers LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394,104 shares of the company's stock after selling 6,634 shares during the period. Gateway Investment Advisers LLC owned 0.07% of American Electric Power worth $36,348,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AEP. American Century Companies Inc. increased its stake in shares of American Electric Power by 51.1% during the 2nd quarter. American Century Companies Inc. now owns 257,372 shares of the company's stock valued at $22,582,000 after acquiring an additional 87,075 shares during the last quarter. Dimensional Fund Advisors LP increased its position in American Electric Power by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,848 shares of the company's stock worth $128,094,000 after purchasing an additional 141,556 shares during the last quarter. Edgestream Partners L.P. acquired a new position in American Electric Power during the second quarter worth approximately $1,355,000. Bradley Foster & Sargent Inc. CT purchased a new position in American Electric Power during the second quarter worth approximately $202,000. Finally, Wealth Alliance boosted its holdings in shares of American Electric Power by 1.2% in the 2nd quarter. Wealth Alliance now owns 13,400 shares of the company's stock valued at $1,176,000 after purchasing an additional 162 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Stock Up 0.4 %
Shares of American Electric Power stock traded up $0.43 during trading hours on Friday, hitting $97.25. 2,728,456 shares of the company's stock traded hands, compared to its average volume of 3,400,759. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a market cap of $51.75 billion, a PE ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $94.51 and a 200-day simple moving average of $96.77.
American Electric Power Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power's dividend payout ratio is presently 74.55%.
Analyst Ratings Changes
AEP has been the topic of several research reports. Bank of America raised American Electric Power from an "underperform" rating to a "buy" rating and increased their target price for the stock from $98.00 to $104.00 in a research report on Monday. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. BMO Capital Markets cut their price target on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI decreased their price objective on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average target price of $98.00.
Read Our Latest Analysis 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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