abrdn plc Has $36.97 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

abrdn plc grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,708 shares of the company’s stock after buying an additional 61,267 shares during the period. abrdn plc owned approximately 0.07% of American Electric Power worth $36,967,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Orrstown Financial Services Inc. acquired a new stake in American Electric Power in the 3rd quarter worth approximately $311,000. TCI Wealth Advisors Inc. acquired a new position in American Electric Power during the third quarter valued at approximately $202,000. Concord Wealth Partners raised its position in shares of American Electric Power by 30.0% in the third quarter. Concord Wealth Partners now owns 1,843 shares of the company’s stock valued at $189,000 after purchasing an additional 425 shares during the period. First American Bank lifted its stake in shares of American Electric Power by 1.4% in the third quarter. First American Bank now owns 82,998 shares of the company’s stock worth $8,516,000 after buying an additional 1,182 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of American Electric Power by 6.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 17,929 shares of the company’s stock worth $1,840,000 after buying an additional 1,079 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several recent analyst reports. Scotiabank lifted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Finally, Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Up 0.0 %

NASDAQ AEP opened at $97.40 on Thursday. American Electric Power Company, Inc. has a 1-year low of $74.73 and a 1-year high of $105.18. The company has a market capitalization of $51.83 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.79 and a beta of 0.54. The stock’s 50 day moving average is $100.69 and its two-hundred day moving average is $94.20. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. American Electric Power’s dividend payout ratio is presently 74.10%.

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.