Peachtree Investment Partners LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,356 shares of the company’s stock, valued at approximately $204,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in American Electric Power by 4.8% in the 2nd quarter. State Street Corp now owns 29,105,487 shares of the company’s stock valued at $2,792,380,000 after purchasing an additional 1,327,884 shares during the period. Northern Trust Corp lifted its stake in shares of American Electric Power by 2.6% during the second quarter. Northern Trust Corp now owns 5,295,063 shares of the company’s stock worth $508,008,000 after buying an additional 131,872 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of American Electric Power by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,254,914 shares of the company’s stock worth $408,214,000 after purchasing an additional 47,812 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of American Electric Power by 8.3% in the first quarter. Royal Bank of Canada now owns 4,251,573 shares of the company’s stock valued at $424,180,000 after purchasing an additional 327,199 shares during the period. Finally, FMR LLC raised its holdings in shares of American Electric Power by 3.1% in the second quarter. FMR LLC now owns 3,019,841 shares of the company’s stock valued at $289,724,000 after buying an additional 90,617 shares during the last quarter. Institutional investors own 74.33% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Guggenheim decreased their price target on shares of American Electric Power from $109.00 to $93.00 in a report on Monday, October 24th. StockNews.com assumed coverage on American Electric Power in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Mizuho lowered their price target on shares of American Electric Power from $104.00 to $101.00 and set a “buy” rating for the company in a report on Friday, December 16th. Wells Fargo & Company cut American Electric Power from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $108.00 to $99.00 in a research report on Wednesday. Finally, Cfra reduced their price objective on shares of American Electric Power from $105.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.
American Electric Power Trading Down 0.7 %
American Electric Power Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 10th will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, February 9th. This represents a $3.32 annualized dividend and a yield of 3.56%. American Electric Power’s dividend payout ratio (DPR) is presently 68.74%.
American Electric Power Profile
American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.
- Get a free copy of the StockNews.com research report on American Electric Power (AEP)
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