Geode Capital Management LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,808,003 shares of the company's stock after acquiring an additional 283,311 shares during the period. Geode Capital Management LLC owned 2.41% of American Electric Power worth $1,178,174,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the 4th quarter valued at $25,000. 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 American Electric Power in the third quarter valued at about $33,000. Fairway Wealth LLC acquired a new stake in American Electric Power in the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Stock Performance
American Electric Power stock traded down $4.63 during midday trading on Friday, hitting $104.48. 7,367,841 shares of the company were exchanged, compared to its average volume of 3,107,684. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $110.48. The firm has a market capitalization of $55.76 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The business has a fifty day simple moving average of $103.79 and a two-hundred day simple moving average of $99.26. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the business posted $1.23 earnings per share. On average, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power's payout ratio is currently 66.43%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on AEP shares. BMO Capital Markets increased their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $100.77.
Read Our Latest Research Report on American Electric Power
About American Electric Power
(
Free Report)
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.
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