Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 93,341 shares of the company’s stock, valued at approximately $7,773,000.
Several other institutional investors have also recently modified their holdings of AEP. Bank of New York Mellon Corp increased its stake in shares of American Electric Power by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,851,838 shares of the company’s stock valued at $320,742,000 after purchasing an additional 252,550 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in American Electric Power by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,199,386 shares of the company’s stock valued at $183,143,000 after acquiring an additional 26,864 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in American Electric Power by 2.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,499,448 shares of the company’s stock worth $124,861,000 after acquiring an additional 38,930 shares during the period. Boston Partners purchased a new position in American Electric Power during the fourth quarter valued at $91,696,000. Finally, New York State Common Retirement Fund increased its stake in shares of American Electric Power by 14.6% during the fourth quarter. New York State Common Retirement Fund now owns 1,052,027 shares of the company’s stock worth $87,602,000 after purchasing an additional 134,200 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.
Shares of American Electric Power stock opened at $86.69 on Thursday. American Electric Power Company, Inc. has a fifty-two week low of $74.80 and a fifty-two week high of $94.21. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.34 and a current ratio of 0.48. The firm has a market capitalization of $43.06 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.00 and a beta of 0.22. The stock has a 50 day moving average of $81.22 and a 200 day moving average of $82.43.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, February 9th. American Electric Power’s dividend payout ratio (DPR) is 69.81%.
Several research firms have recently weighed in on AEP. Morgan Stanley raised their target price on American Electric Power from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. The Goldman Sachs Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $90.00 to $83.00 in a research note on Thursday, January 14th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Wednesday, January 20th. Wells Fargo & Company lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $101.00 to $88.00 in a research report on Wednesday, January 6th. Finally, Mizuho started coverage on shares of American Electric Power in a research note on Monday, December 14th. They set a “buy” rating and a $84.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.33.
In other American Electric Power news, CEO Nicholas K. Akins sold 66,483 shares of the company’s stock in a transaction on Friday, February 26th. The stock was sold at an average price of $76.24, for a total transaction of $5,068,663.92. Following the transaction, the chief executive officer now directly owns 187,288 shares in the company, valued at $14,278,837.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Barnie Beasley sold 2,048 shares of the firm’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $76.71, for a total value of $157,102.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,935 shares of company stock worth $9,204,606. Company insiders own 0.16% of the company’s stock.
American Electric Power Profile
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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