LVW Advisors LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,430 shares of the company’s stock after buying an additional 1,137 shares during the quarter. LVW Advisors LLC’s holdings in American Electric Power were worth $1,481,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of AEP. Nomura Holdings Inc. acquired a new stake in American Electric Power in the fourth quarter valued at $175,667,000. Mitsubishi UFJ Trust & Banking Corp grew its position in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB grew its position in American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after buying an additional 1,581,734 shares in the last quarter. National Bank of Canada FI grew its position in American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after buying an additional 1,182,451 shares in the last quarter. Finally, Zimmer Partners LP grew its position in American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after buying an additional 831,235 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Stock Up 0.8 %
AEP traded up $0.80 during midday trading on Friday, hitting $98.02. 269,788 shares of the company’s stock traded hands, compared to its average volume of 3,142,718. The company has a market cap of $52.16 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The stock’s fifty day simple moving average is $100.30 and its 200-day simple moving average is $92.64. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a one year low of $72.01 and a one year high of $105.18.
American Electric Power Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.59%. American Electric Power’s payout ratio is 70.12%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Guggenheim raised their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group began coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.79.
Check Out Our Latest Research Report on American Electric Power
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.
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