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

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 21.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 152,000 shares of the company’s stock after buying an additional 27,108 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American Electric Power were worth $14,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in American Electric Power during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the third quarter valued at about $48,000. Decker Retirement Planning Inc. purchased a new position in shares of American Electric Power in the 4th quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in American Electric Power in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AEP shares. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Barclays reduced 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 note on Tuesday, November 26th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Up 0.8 %

Shares of NASDAQ:AEP opened at $100.17 on Friday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $95.09 and a two-hundred day moving average of $97.68. The stock has a market cap of $53.30 billion, a P/E ratio of 20.07, a PEG ratio of 2.79 and a beta of 0.58.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.