Magnetar Financial LLC Acquires Shares of 9,999 American Electric Power Company, Inc. (NASDAQ:AEP)

Magnetar Financial LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,999 shares of the company’s stock, valued at approximately $877,000.

Several other large investors have also made changes to their positions in the company. Hodges Capital Management Inc. acquired a new stake in American Electric Power during the 1st quarter valued at $1,615,000. Quantbot Technologies LP bought a new position in shares of American Electric Power in the first quarter valued at about $1,731,000. Nordea Investment Management AB lifted its position in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after acquiring an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after acquiring an additional 103,771 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 1.1 %

Shares of NASDAQ:AEP opened at $101.41 on Wednesday. The company has a 50 day moving average price of $99.24 and a two-hundred day moving average price of $91.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The company has a market capitalization of $53.46 billion, a PE ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.54. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. During the same quarter last year, the business posted $1.13 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.47%. American Electric Power’s dividend payout ratio is presently 65.31%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. BMO Capital Markets upped their price target on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley boosted their price objective on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.00.

About American Electric Power

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.