Impact Partnership Wealth LLC Acquires Shares of 8,577 American Electric Power Company, Inc. (NASDAQ:AEP)

Impact Partnership Wealth LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,577 shares of the company’s stock, valued at approximately $791,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC grew its holdings in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in American Electric Power by 109.5% in the 3rd 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 currently owned by institutional investors.

American Electric Power Stock Performance

Shares of AEP opened at $97.47 on Friday. The firm has a market capitalization of $51.87 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The stock has a 50 day moving average price of $94.83 and a two-hundred day moving average price of $97.12. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Evercore ISI lowered their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. BMO Capital Markets cut their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.00.

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.