Envestnet Asset Management Inc. Has $293 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Asset Management Inc. boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,176,835 shares of the company's stock after buying an additional 73,545 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.60% of American Electric Power worth $292,999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AEP. Legacy Investment Solutions LLC bought a new position in American Electric Power in the third quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power during the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of American Electric Power during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new position in American Electric Power in the 4th quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Bank of America raised their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Morgan Stanley upped their price objective 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. Finally, Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.77.

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American Electric Power Price Performance

Shares of NASDAQ AEP traded up $1.51 during trading hours on Friday, hitting $104.71. 812,164 shares of the stock were exchanged, compared to its average volume of 3,158,024. The company's fifty day simple moving average is $104.11 and its two-hundred day simple moving average is $99.27. The company has a market cap of $55.88 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. 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 Company, Inc. has a 1-year low of $79.16 and a 1-year high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's dividend payout ratio is 66.43%.

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.