Forsta AP Fonden Buys 5,700 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Forsta AP Fonden increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 114,200 shares of the company’s stock after acquiring an additional 5,700 shares during the quarter. Forsta AP Fonden’s holdings in American Electric Power were worth $10,533,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AEP. State Street Corp increased its stake 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 acquiring an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC increased its position in American Electric Power by 2.9% in the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after purchasing an additional 352,588 shares during the last quarter. FMR LLC increased its position in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AEP. Evercore ISI decreased 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 decreased their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Barclays decreased their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Down 0.0 %

Shares of NASDAQ AEP opened at $98.03 on Friday. The stock has a market capitalization of $52.16 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock’s fifty day simple moving average is $95.09 and its two-hundred day simple moving average is $97.47.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.