Vanguard Group Inc. Grows Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Vanguard Group Inc. lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,690,606 shares of the company's stock after purchasing an additional 763,813 shares during the period. Vanguard Group Inc. owned about 9.71% of American Electric Power worth $4,767,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares during the period. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company's stock valued at $1,280,655,000 after buying an additional 352,588 shares in the last quarter. FMR LLC grew its stake in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in American Electric Power by 2.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company's stock worth $427,009,000 after acquiring an additional 100,578 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in American Electric Power by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,844,201 shares of the company's stock worth $354,551,000 after acquiring an additional 84,704 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

American Electric Power Trading Up 1.7 %

Shares of AEP traded up $1.81 during mid-day trading on Friday, reaching $106.96. The stock had a trading volume of 6,173,353 shares, compared to its average volume of 3,042,178. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The business's fifty day moving average is $102.78 and its 200 day moving average is $99.15. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. The firm has a market cap of $57.08 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.

Analysts Set New Price Targets

Several analysts have recently issued reports on AEP shares. Bank of America lifted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $100.77.

About American Electric Power

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.