AlTi Global Inc. reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,138 shares of the company's stock after selling 5,610 shares during the period. AlTi Global Inc.'s holdings in American Electric Power were worth $7,685,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power during the fourth quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in American Electric Power in the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in American Electric Power during the 4th quarter worth $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in American Electric Power during the 4th quarter worth $38,000. Institutional investors and hedge funds own 75.24% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on AEP. Guggenheim upgraded shares of American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Barclays increased their price objective on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. BMO Capital Markets boosted their target price on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Bank of America lifted their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Finally, Morgan Stanley set a $114.00 price objective on shares of American Electric Power and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.69.
Get Our Latest Stock Analysis on American Electric Power
American Electric Power Trading Up 0.1 %
Shares of American Electric Power stock opened at $107.69 on Friday. The company has a 50-day moving average of $105.63 and a two-hundred day moving average of $100.05. The stock has a market cap of $57.47 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.45%. American Electric Power's dividend payout ratio (DPR) is currently 66.43%.
American Electric Power Profile
(
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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