Allspring Global Investments Holdings LLC Acquires 100,578 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Allspring Global Investments Holdings LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,644,349 shares of the company’s stock after acquiring an additional 100,578 shares during the quarter. American Electric Power makes up 0.7% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 19th largest holding. Allspring Global Investments Holdings LLC owned about 0.87% of American Electric Power worth $427,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Legacy Investment Solutions LLC purchased a new stake in shares of American Electric Power in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the 3rd quarter valued at $33,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power in the 4th quarter worth $35,000. Reston Wealth Management LLC bought a new position in shares of American Electric Power during the 3rd quarter worth $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power during the third quarter valued at $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AEP. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. BMO Capital Markets lowered their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Up 1.0 %

Shares of NASDAQ:AEP opened at $101.88 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a market capitalization of $54.21 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.84 and a beta of 0.58. The business’s 50-day moving average is $95.16 and its 200 day moving average is $97.83. American Electric Power Company, Inc. has a 1 year low of $76.31 and a 1 year high of $105.18.

American Electric Power Announces Dividend

The business also recently disclosed 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. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

American Electric Power 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.