Vanguard Group Inc. Purchases 2,305,001 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Vanguard Group Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,377,335 shares of the company’s stock after acquiring an additional 2,305,001 shares during the period. Vanguard Group Inc. owned 8.84% of American Electric Power worth $4,527,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEP. BlackRock Inc. lifted its holdings in shares of American Electric Power by 4.8% in the fourth quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock valued at $3,688,814,000 after purchasing an additional 1,910,807 shares in the last quarter. Jennison Associates LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $100,500,000. Marshall Wace LLP lifted its holdings in shares of American Electric Power by 1,477.3% in the fourth quarter. Marshall Wace LLP now owns 1,066,861 shares of the company’s stock valued at $94,919,000 after purchasing an additional 999,221 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Electric Power by 32.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,493,365 shares of the company’s stock valued at $310,805,000 after purchasing an additional 863,190 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of American Electric Power by 11.0% in the fourth quarter. Invesco Ltd. now owns 8,188,478 shares of the company’s stock valued at $728,529,000 after purchasing an additional 811,843 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $103.98 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.66. The business has a fifty day simple moving average of $99.14 and a two-hundred day simple moving average of $98.46. American Electric Power Company, Inc. has a 1 year low of $80.22 and a 1 year high of $105.48. The company has a market capitalization of $53.42 billion, a P/E ratio of 20.43, a P/E/G ratio of 3.28 and a beta of 0.34.

American Electric Power (NASDAQ:AEPGet Rating) last released its earnings results on Wednesday, July 27th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period last year, the business posted $1.18 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts expect that American Electric Power Company, Inc. will post 5 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, August 9th. American Electric Power’s dividend payout ratio is currently 61.30%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEP. Credit Suisse Group raised their target price on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Citigroup increased their price target on American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Evercore ISI increased their price target on American Electric Power to $107.00 in a research report on Monday, August 15th. Finally, Morgan Stanley increased their price target on American Electric Power from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.71.

American Electric Power Profile

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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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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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