Mirae Asset Global Investments Co. Ltd. Boosts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 22.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,892 shares of the company’s stock after buying an additional 23,296 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Electric Power were worth $12,719,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its position in American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after purchasing an additional 35,769 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, Barclays lifted their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Trading Down 1.2 %

NASDAQ:AEP opened at $98.19 on Monday. The company has a market capitalization of $51.76 billion, a P/E ratio of 18.22, a PEG ratio of 2.79 and a beta of 0.54. 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 Company, Inc. has a 12 month low of $74.37 and a 12 month high of $105.18. The firm has a fifty day simple moving average of $100.68 and a 200-day simple moving average of $93.96.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share 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 the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is 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 yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is currently 69.02%.

American Electric Power Company 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.