Janus Henderson Group PLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 109.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,753,250 shares of the company's stock after purchasing an additional 1,962,125 shares during the period. Janus Henderson Group PLC owned approximately 0.71% of American Electric Power worth $385,079,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hilltop Holdings Inc. boosted its holdings in shares of American Electric Power by 12.4% in the third quarter. Hilltop Holdings Inc. now owns 8,529 shares of the company's stock valued at $875,000 after acquiring an additional 942 shares in the last quarter. Hollow Brook Wealth Management LLC boosted its holdings in shares of American Electric Power by 4.9% in the third quarter. Hollow Brook Wealth Management LLC now owns 64,389 shares of the company's stock valued at $6,606,000 after acquiring an additional 3,035 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of American Electric Power by 29.0% in the third quarter. Benjamin Edwards Inc. now owns 68,405 shares of the company's stock valued at $7,026,000 after acquiring an additional 15,358 shares in the last quarter. Atlas Wealth LLC purchased a new stake in shares of American Electric Power in the third quarter valued at about $220,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of American Electric Power in the third quarter valued at about $3,413,000. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Trading Down 0.8 %
American Electric Power stock traded down $0.77 during trading on Wednesday, reaching $96.25. The company had a trading volume of 2,832,278 shares, compared to its average volume of 3,120,509. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock's 50 day moving average price is $98.45 and its two-hundred day moving average price is $95.89. The firm has a market capitalization of $51.22 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.83 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.
American Electric Power Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 3.86%. 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 presently 74.55%.
Analyst Upgrades and Downgrades
Several analysts recently commented on AEP shares. Barclays reduced their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 26th. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a "hold" rating and a $107.00 price objective for the company. Morgan Stanley reduced their price objective on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Finally, Scotiabank lifted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of "Hold" and an average price target of $98.20.
View Our Latest Stock Report on American Electric Power
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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