abrdn plc Increases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

abrdn plc raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,499 shares of the company’s stock after buying an additional 15,791 shares during the period. abrdn plc owned about 0.07% of American Electric Power worth $34,373,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $1,280,655,000 after buying an additional 352,588 shares during the period. FMR LLC boosted its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in American Electric Power by 8.1% in 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 boosted its holdings in American Electric Power by 109.5% in 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 hedge funds and other institutional investors.

American Electric Power Stock Performance

American Electric Power stock opened at $99.39 on Thursday. 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 firm has a market capitalization of $52.89 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58. The company’s 50-day moving average is $95.10 and its 200 day moving average is $97.67.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AEP shares. BMO Capital Markets dropped 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 report on Friday, January 10th. Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.00.

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.