Southland Equity Partners LLC Acquires 210 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Southland Equity Partners LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,919 shares of the company’s stock after buying an additional 210 shares during the period. Southland Equity Partners LLC’s holdings in American Electric Power were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. Geode Capital Management LLC lifted 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 valued at $1,280,655,000 after acquiring an additional 352,588 shares during the period. FMR LLC lifted its holdings in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in American Electric Power by 8.1% in 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 acquiring an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in American Electric Power by 109.5% in 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 during the period. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets reduced their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Evercore ISI reduced their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

NASDAQ AEP opened at $97.47 on Friday. The stock has a market capitalization of $51.87 billion, a PE ratio of 19.53, a P/E/G ratio of 2.77 and a beta of 0.56. The business has a 50 day simple moving average of $94.83 and a two-hundred day simple moving average of $97.12. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 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.