Pacer Advisors Inc. lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 22.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 47,235 shares of the company’s stock after selling 13,296 shares during the period. Pacer Advisors Inc.’s holdings in American Electric Power were worth $3,977,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in American Electric Power in the 1st quarter valued at about $4,175,000. Perpetual Ltd acquired a new position in American Electric Power in the 1st quarter valued at about $521,000. Envestnet Asset Management Inc. increased its position in American Electric Power by 141.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,912,783 shares of the company’s stock valued at $86,726,000 after acquiring an additional 1,119,687 shares during the period. Sequoia Financial Advisors LLC increased its position in American Electric Power by 0.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,989 shares of the company’s stock valued at $1,728,000 after acquiring an additional 171 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new position in American Electric Power in the 1st quarter valued at about $307,000. Institutional investors and hedge funds own 74.68% of the company’s stock.
American Electric Power Stock Down 0.9 %
Shares of American Electric Power stock opened at $79.17 on Friday. The business has a 50-day moving average of $81.00 and a 200-day moving average of $85.44. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.48. The company has a market capitalization of $40.79 billion, a PE ratio of 20.51, a P/E/G ratio of 2.71 and a beta of 0.46. American Electric Power Company, Inc. has a 1-year low of $75.47 and a 1-year high of $100.32.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.19%. American Electric Power’s dividend payout ratio (DPR) is presently 86.01%.
Analyst Ratings Changes
Several brokerages recently issued reports on AEP. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 13th. BMO Capital Markets dropped their target price on American Electric Power from $103.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Morgan Stanley boosted their target price on American Electric Power from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Saturday, September 16th. Finally, Mizuho lowered their price target on American Electric Power from $94.00 to $93.00 in a report on Thursday, July 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.97.
Read Our Latest Analysis on AEP
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.
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