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.
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