David J Yvars Group trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,336 shares of the company’s stock after selling 770 shares during the period. David J Yvars Group’s holdings in American Electric Power were worth $308,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of American Electric Power by 4.3% during 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 during the period. Geode Capital Management LLC boosted its stake in American Electric Power by 2.9% in 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 purchasing an additional 352,588 shares during the period. FMR LLC boosted 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 purchasing an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC increased its position in American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after buying an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC increased its position in American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after buying an additional 1,962,125 shares during the period. 75.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AEP has been the topic of several research reports. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target 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. Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Morgan Stanley cut their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Evercore ISI decreased their price target on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.00.
American Electric Power Stock Performance
NASDAQ AEP opened at $94.54 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The stock has a market cap of $50.31 billion, a PE ratio of 18.95, a PEG ratio of 2.70 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm’s fifty day moving average price is $94.64 and its two-hundred day moving average price is $96.74.
American Electric Power Increases Dividend
The company 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. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.93%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.
American Electric Power Profile
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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