Shelton Capital Management lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,571 shares of the company’s stock after purchasing an additional 1,795 shares during the period. Shelton Capital Management’s holdings in American Electric Power were worth $3,837,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners lifted its stake in shares of American Electric Power by 0.6% in the second quarter. Boston Partners now owns 2,753,882 shares of the company’s stock valued at $231,852,000 after purchasing an additional 16,347 shares during the period. JGP Wealth Management LLC raised its position in American Electric Power by 4.1% during the second quarter. JGP Wealth Management LLC now owns 17,622 shares of the company’s stock worth $1,484,000 after acquiring an additional 699 shares during the last quarter. Wealth Quarterback LLC raised its position in American Electric Power by 18.9% during the second quarter. Wealth Quarterback LLC now owns 2,615 shares of the company’s stock worth $220,000 after acquiring an additional 415 shares during the last quarter. Russell Investments Group Ltd. raised its position in American Electric Power by 12.6% during the second quarter. Russell Investments Group Ltd. now owns 141,014 shares of the company’s stock worth $11,869,000 after acquiring an additional 15,780 shares during the last quarter. Finally, Beck Bode LLC raised its position in American Electric Power by 1.6% during the second quarter. Beck Bode LLC now owns 11,268 shares of the company’s stock worth $949,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.
American Electric Power Price Performance
American Electric Power stock opened at $77.39 on Friday. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $100.32. The firm has a 50 day moving average price of $76.38 and a 200 day moving average price of $80.95. The company has a market cap of $40.70 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.00 and a beta of 0.49. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.60.
American Electric Power Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.88 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.83. This represents a $3.52 annualized dividend and a yield of 4.55%. The ex-dividend date is Thursday, November 9th. American Electric Power’s payout ratio is currently 80.73%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of American Electric Power from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Sunday, November 12th. Guggenheim cut their target price on shares of American Electric Power from $96.00 to $85.00 in a research report on Monday, October 9th. Bank of America cut their price objective on shares of American Electric Power from $91.00 to $77.00 in a research report on Thursday, October 12th. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American Electric Power currently has an average rating of “Moderate Buy” and an average target price of $91.37.
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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