Cyndeo Wealth Partners LLC Raises Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cyndeo Wealth Partners LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 13,062 shares of the company’s stock after purchasing an additional 412 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in American Electric Power were worth $1,205,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AEP. State Street Corp increased its holdings 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 valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC increased its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC increased its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 acquiring an additional 341,846 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake 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.

American Electric Power Stock Up 0.7 %

AEP stock opened at $98.18 on Friday. 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 Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a fifty day simple moving average of $94.87 and a 200 day simple moving average of $97.19. The firm has a market cap of $52.24 billion, a PE ratio of 19.68, a PEG ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AEP shares. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the company from $98.00 to $104.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley lowered their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, UBS Group raised 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average target price of $98.00.

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.