Franklin Resources Inc. lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,477,070 shares of the company's stock after selling 892,538 shares during the quarter. Franklin Resources Inc. owned 0.65% of American Electric Power worth $320,690,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its position in shares of American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock worth $5,310,000 after buying an additional 3,288 shares during the last quarter. Secure Asset Management LLC lifted its stake in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company's stock worth $2,206,000 after acquiring an additional 4,370 shares during the period. Grove Bank & Trust boosted its holdings in American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company's stock valued at $654,000 after acquiring an additional 5,771 shares in the last quarter. J2 Capital Management Inc bought a new stake in American Electric Power in the fourth quarter valued at $419,000. Finally, Principal Financial Group Inc. increased its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company's stock valued at $65,667,000 after purchasing an additional 19,081 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.
Analysts Set New Price Targets
AEP has been the topic of a number of research reports. Bank of America lifted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley upped their target price on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued 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 lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. One 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $100.77.
View Our Latest Report on AEP
American Electric Power Stock Down 4.2 %
Shares of AEP traded down $4.63 on Friday, hitting $104.48. 7,367,841 shares of the stock traded hands, compared to its average volume of 3,107,684. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $110.48. The company has a market capitalization of $55.76 billion, a PE ratio of 18.66, a P/E/G ratio of 2.97 and a beta of 0.43. The business has a 50 day simple moving average of $103.79 and a 200 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 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 period last year, the business posted $1.23 earnings per share. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.
American Electric Power Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.56%. American Electric Power's dividend payout ratio is presently 66.43%.
American Electric Power Company 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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