Cohen & Steers Inc. acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,318,499 shares of the company's stock, valued at approximately $121,605,000. Cohen & Steers Inc. owned about 0.25% of American Electric Power at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the fourth quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power during the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in shares of American Electric Power during the 4th quarter worth $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of American Electric Power in the 4th quarter worth $38,000. Institutional investors and hedge funds own 75.24% of the company's stock.
American Electric Power Stock Up 1.7 %
Shares of AEP traded up $1.79 during trading on Friday, reaching $107.71. The company's stock had a trading volume of 3,156,599 shares, compared to its average volume of 3,175,399. American Electric Power Company, Inc. has a twelve month low of $82.75 and a twelve month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a market cap of $57.48 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.97 and a beta of 0.43. The company has a fifty day moving average of $104.88 and a two-hundred day moving average of $99.49.
American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the firm posted $1.23 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. BMO Capital Markets raised their price target on shares of American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a report on Wednesday, March 26th. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley lifted their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $100.77.
Check Out Our Latest Stock Report on AEP
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.
Featured Stories
Before you consider American Electric Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Electric Power wasn't on the list.
While American Electric Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
