Allspring Global Investments Holdings LLC Has $466.19 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Allspring Global Investments Holdings LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,543,771 shares of the company’s stock after acquiring an additional 341,846 shares during the period. American Electric Power accounts for approximately 0.7% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 16th biggest position. Allspring Global Investments Holdings LLC’s holdings in American Electric Power were worth $466,191,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its position in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Denali Advisors LLC bought a new position in American Electric Power during the 1st quarter worth $26,000. LRI Investments LLC raised its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its position in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power in the 1st quarter worth about $41,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded down $0.22 during midday trading on Friday, reaching $100.69. The company’s stock had a trading volume of 3,111,829 shares, compared to its average volume of 3,139,581. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market capitalization of $53.08 billion, a P/E ratio of 18.68, a PEG ratio of 2.79 and a beta of 0.54. The firm has a 50 day moving average price of $100.43 and a 200-day moving average price of $93.34. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.50%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Upgrades and Downgrades

AEP has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Barclays raised their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.43.

American Electric Power Company 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.