Essential Planning LLC. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,340 shares of the company's stock, valued at approximately $2,067,000.
Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of American Electric Power by 2.5% during the 4th quarter. HighTower Advisors LLC now owns 1,239,706 shares of the company's stock worth $114,338,000 after purchasing an additional 30,031 shares during the period. Moors & Cabot Inc. boosted its holdings in American Electric Power by 8.7% during the 4th quarter. Moors & Cabot Inc. now owns 15,972 shares of the company's stock valued at $1,473,000 after acquiring an additional 1,278 shares during the period. Wealthfront Advisers LLC grew its position in American Electric Power by 334.6% in the 4th quarter. Wealthfront Advisers LLC now owns 168,732 shares of the company's stock valued at $15,562,000 after acquiring an additional 129,909 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. Finally, Gables Capital Management Inc. grew its stake in shares of American Electric Power by 34.1% in the fourth quarter. Gables Capital Management Inc. now owns 4,693 shares of the company's stock worth $433,000 after acquiring an additional 1,193 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Price Performance
Shares of AEP stock traded up $1.28 during midday trading on Thursday, reaching $104.24. 1,908,748 shares of the company traded hands, compared to its average volume of 3,426,472. The firm's 50 day simple moving average is $100.22 and its two-hundred day simple moving average is $98.82. The firm has a market cap of $55.58 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.52.
American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 prior year, the firm posted $1.23 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.57%. The ex-dividend date was Monday, February 10th. American Electric Power's payout ratio is 66.43%.
Analysts Set New Price Targets
Several analysts have recently issued reports on AEP shares. Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Barclays dropped their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 26th. BMO Capital Markets lowered their target price on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, Scotiabank lowered 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 report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $98.46.
View Our Latest Research Report on AEP
American Electric Power Profile
(
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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