Sanibel Captiva Trust Company Inc. Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Sanibel Captiva Trust Company Inc. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 49.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,523 shares of the company’s stock after acquiring an additional 1,817 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in American Electric Power were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp boosted its stake in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Electric Power by 2.9% in the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after buying an additional 352,588 shares during the last quarter. FMR LLC lifted its stake in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares in the last quarter. Hedge funds and other 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. UBS Group increased their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays decreased their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Trading Up 0.4 %

NASDAQ AEP opened at $97.25 on Monday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company’s 50-day moving average price is $94.52 and its 200-day moving average price is $96.91. The stock has a market cap of $51.75 billion, a PE ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. American Electric Power’s dividend payout ratio (DPR) is 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.