Wilmington Savings Fund Society FSB purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,737 shares of the company's stock, valued at approximately $589,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in shares of American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC raised its stake in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock valued at $385,079,000 after buying an additional 1,962,125 shares during the last quarter. State Street Corp boosted 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 worth $2,760,223,000 after acquiring an additional 1,114,954 shares in the last quarter. FMR LLC grew its stake in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock worth $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of American Electric Power during the third quarter valued at about $80,207,000. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Price Performance
NASDAQ AEP traded down $0.94 during trading hours on Monday, reaching $91.77. The company's stock had a trading volume of 2,410,679 shares, compared to its average volume of 3,094,781. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The company's 50-day moving average is $97.50 and its two-hundred day moving average is $96.17. The firm has a market capitalization of $48.83 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55.
American Electric Power Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.93 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 4.05%. This is a boost from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's dividend payout ratio (DPR) is currently 74.55%.
Wall Street Analyst Weigh In
Several research firms have weighed in on AEP. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets raised their target price on American Electric Power from $104.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. UBS Group boosted their price target on American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price objective on 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. Finally, Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $105.00 to $102.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $97.13.
Check Out Our Latest Analysis on American Electric Power
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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