Several institutional investors recently bought and sold shares of American Electric Power (AEP). Notably, Nomura Holdings acquired a new position worth $175.67 million. Mitsubishi UFJ Trust & Banking increased its stake by 542.4%, owning 2.28 million shares valued at $193.54 million. Nordea Investment Management raised holdings by 381.9%, now owning nearly 2 million shares worth $171.13 million. National Bank of Canada FI boosted its position by 221.9%, holding 1.72 million shares valued at $157.14 million. Finally, Envestnet Asset Management increased its stake by 67.7%, owning over 2.58 million shares valued at $210.06 million. Overall, 75.24% of AEP is owned by hedge funds and institutional investors.
Analyst Ratings Changes
Analysts have recently updated their ratings for AEP. Scotiabank raised its price target from $99 to $108, rated “sector outperform.” Morgan Stanley also increased its target to $108 with an “overweight” rating. Jefferies issued a “hold” rating with a $107 target. Barclays raised its price target from $91 to $96, while JPMorgan Chase increased it to $108, maintaining an “overweight” rating. The current consensus rating is “Hold” with a target price of $96.79.
Get Our Latest Analysis on AEP
American Electric Power Trading Update
AEP shares opened at $101.37 with a 50-day moving average of $100.29. The stock has a 12-month low of $69.38 and a high of $105.18, with a market cap of $53.43 billion. They reported Q2 earnings of $1.25 per share, exceeding estimates by $0.02, with revenue of $4.60 billion. Analysts predict AEP will report earnings of $5.60 for the current fiscal year.
Recent Dividend Announcement
AEP declared a quarterly dividend of $0.88 per share, paid on September 10th, reflecting an annualized total of $3.52 and a yield of 3.47%. The payout ratio currently stands at 65.31%.
About American Electric Power
American Electric Power Company, Inc. is a utility holding company involved in electricity generation, transmission, and distribution in the U.S.
Featured Articles
- Five stocks we like better than American Electric Power
- 3 Healthcare Dividend Stocks to Buy
- Top 3 Low-Beta Stocks to Watch
- Procter & Gamble Pulls Back After Guidance
- Top Payment Stocks After Rate Cuts
- Investing in Small Cap Stocks
- Best Time to Invest in Mutual Funds
Want to see what other hedge funds hold AEP? Visit HoldingsChannel.com for the latest filings and trades for American Electric Power Company, Inc. (NASDAQ:AEP).
Receive Daily News & Ratings for AEP – Enter your email below for a daily summary of the latest news and ratings with MarketBeat.com’s FREE daily newsletter.
`