American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,389 shares of the company’s stock after buying an additional 150 shares during the period. Sonora Investment Management Group LLC’s holdings in American Electric Power were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC increased its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares during the last quarter. FMR LLC increased its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AEP. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Price Performance

American Electric Power stock opened at $98.36 on Friday. The stock has a market cap of $52.34 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a fifty day simple moving average of $95.09 and a 200-day simple moving average of $97.48. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.78%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.