Pacer Advisors Inc. increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 34.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,692 shares of the company's stock after buying an additional 22,429 shares during the period. Pacer Advisors Inc.'s holdings in American Electric Power were worth $8,088,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power in the third quarter valued at $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the third quarter valued at $48,000. Friedenthal Financial acquired a new stake in shares of American Electric Power in the 3rd quarter worth about $50,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power in the 3rd quarter valued at about $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AEP. BMO Capital Markets decreased their target price on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America upgraded shares of American Electric Power from an "underperform" rating to a "buy" rating and raised their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, Barclays dropped their target price on shares of 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. One analyst has 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.00.
View Our Latest Analysis on AEP
American Electric Power Stock Down 0.0 %
Shares of NASDAQ AEP traded down $0.02 during trading hours on Thursday, hitting $98.03. The stock had a trading volume of 3,577,693 shares, compared to its average volume of 3,412,884. The company has a market capitalization of $52.16 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.77 and a beta of 0.56. The firm's 50-day moving average price is $95.09 and its two-hundred day moving average price is $97.47. 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 Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. American Electric Power's dividend 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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