Stonebridge Financial Group LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Stonebridge Financial Group LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,036 shares of the company’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. State Street Corp lifted its stake 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 worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. Geode Capital Management LLC raised its holdings in American Electric Power by 2.9% during the third 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 in the last quarter. FMR LLC lifted its position in American Electric Power by 18.8% in 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. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $466,191,000 after purchasing an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of 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 valued at $385,079,000 after purchasing an additional 1,962,125 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $102.35 on Thursday. The company has a market cap of $54.46 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. The company’s fifty day moving average is $95.26 and its two-hundred day moving average is $97.86. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $77.51 and a 12-month high of $105.18.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Ratings Changes

AEP has been the subject of several research analyst reports. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Evercore ISI cut their price target on shares of 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets reduced their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.