American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,574 shares of the company’s stock after acquiring an additional 3,288 shares during the period. DAVENPORT & Co LLC’s holdings in American Electric Power were worth $5,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in shares of 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 acquiring an additional 1,114,954 shares during the period. Geode Capital Management LLC grew its position in American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after purchasing an additional 352,588 shares during the period. FMR LLC grew its position in American Electric Power by 18.8% during the 3rd 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. Allspring Global Investments Holdings LLC grew 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 during the period. Finally, Janus Henderson Group PLC grew its position in American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. BMO Capital Markets lowered their target price on shares of 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. Finally, Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Up 1.0 %

Shares of American Electric Power stock opened at $99.36 on Tuesday. The firm has a market capitalization of $52.87 billion, a PE ratio of 19.91, a P/E/G ratio of 2.79 and a beta of 0.56. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm’s 50-day moving average price is $95.11 and its 200 day moving average price is $97.60. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.74%. American Electric Power’s payout ratio is 74.55%.

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.