Wedmont Private Capital Acquires 1,111 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Wedmont Private Capital lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,165 shares of the company’s stock after buying an additional 1,111 shares during the period. Wedmont Private Capital’s holdings in American Electric Power were worth $576,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC lifted its stake in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 period. State Street Corp lifted 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 valued at $2,760,223,000 after purchasing an additional 1,114,954 shares during the last quarter. FMR LLC grew its holdings in American Electric Power by 18.8% during 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 period. Finally, Zacks Investment Management bought a new stake in American Electric Power in the third quarter valued at approximately $80,207,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

AEP opened at $94.50 on Wednesday. The firm has a market cap of $50.29 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The business’s fifty day moving average is $94.52 and its 200-day moving average is $96.78. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.94%. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AEP shares. Bank of America raised 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 report on Monday. Morgan Stanley decreased their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company reduced their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. BMO Capital Markets lowered their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI reduced their price objective 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $98.00.

Read Our Latest Analysis on AEP

About American Electric Power

(Free Report)

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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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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