Federated Hermes Inc. lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,707,166 shares of the company's stock after acquiring an additional 26,725 shares during the period. American Electric Power makes up about 0.7% of Federated Hermes Inc.'s holdings, making the stock its 20th largest holding. Federated Hermes Inc. owned 0.70% of American Electric Power worth $341,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power in the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Electric Power in the 3rd quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in American Electric Power in the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth approximately $35,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power during the fourth quarter valued at $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Stock Performance
Shares of AEP traded up $1.48 during midday trading on Friday, reaching $104.68. 919,455 shares of the stock were exchanged, compared to its average volume of 3,158,320. The company has a market capitalization of $55.87 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.97 and a beta of 0.43. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $110.48. The business's 50-day moving average price is $104.11 and its 200 day moving average price is $99.27. 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 (NASDAQ:AEP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 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 previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 was Monday, February 10th. American Electric Power's payout ratio is currently 66.43%.
Analysts Set New Price Targets
A number of research firms have commented on AEP. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Morgan Stanley increased their price target on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Bank of America lifted their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and dropped their price objective 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 assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $100.77.
Read Our Latest Research 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.
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