abrdn plc Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

abrdn plc increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 258,063 shares of the company’s stock after buying an additional 4,876 shares during the quarter. abrdn plc’s holdings in American Electric Power were worth $20,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AEP. FSC Wealth Advisors LLC raised its holdings in American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after acquiring an additional 242 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in American Electric Power in the fourth quarter valued at $32,000. GoalVest Advisory LLC raised its holdings in American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares in the last quarter. JNBA Financial Advisors raised its holdings in American Electric Power by 91.6% in the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock valued at $36,000 after acquiring an additional 229 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of American Electric Power during the third quarter worth $36,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Monday, January 22nd. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Thursday, January 11th. Scotiabank dropped their target price on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a report on Monday. BMO Capital Markets increased their target price on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, StockNews.com cut shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.08.

American Electric Power Stock Up 0.8 %

American Electric Power stock opened at $85.56 on Wednesday. The company has a 50-day simple moving average of $83.19 and a 200-day simple moving average of $80.25. The firm has a market capitalization of $45.06 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.98 and a beta of 0.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $94.73.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.12 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.11%. American Electric Power’s dividend payout ratio is presently 82.82%.

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.