Mutual of America Capital Management LLC reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 2.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 72,081 shares of the company’s stock after selling 1,959 shares during the period. Mutual of America Capital Management LLC’s holdings in American Electric Power were worth $5,422,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC raised its stake in American Electric Power by 222.0% in the 3rd quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after acquiring an additional 242 shares during the period. Fairfield Bush & CO. purchased a new stake in shares of American Electric Power during the second quarter worth $26,000. Penserra Capital Management LLC purchased a new position in shares of American Electric Power in the first quarter valued at $27,000. Pacifica Partners Inc. raised its stake in shares of American Electric Power by 2,343.8% during the 3rd quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock valued at $28,000 after purchasing an additional 375 shares during the period. Finally, True Wealth Design LLC purchased a new stake in American Electric Power during the 4th quarter worth about $28,000. Institutional investors own 74.68% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on AEP. Barclays lifted their price objective on American Electric Power from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price objective for the company. in a report on Monday, January 22nd. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Sunday, November 12th. BMO Capital Markets decreased their target price on shares of American Electric Power from $94.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Finally, Morgan Stanley upped their price target on shares of American Electric Power from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.73.
American Electric Power Trading Up 0.9 %
Shares of AEP opened at $76.66 on Monday. The firm has a market capitalization of $40.31 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.70 and a beta of 0.49. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm’s 50-day moving average price is $80.21 and its 200-day moving average price is $78.72. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $96.05.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 9th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Thursday, February 8th. American Electric Power’s dividend payout ratio is 80.73%.
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.
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