Martingale Asset Management L P raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 70.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,535 shares of the company's stock after purchasing an additional 79,715 shares during the period. Martingale Asset Management L P's holdings in American Electric Power were worth $17,758,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new stake in American Electric Power during the 4th quarter worth about $35,000. Finally, Lee Danner & Bass Inc. bought a new position in American Electric Power in the 4th quarter worth about $38,000. Institutional investors own 75.24% of the company's stock.
American Electric Power Price Performance
Shares of AEP traded up $1.43 during midday trading on Friday, reaching $104.63. The stock had a trading volume of 3,582,789 shares, compared to its average volume of 3,174,035. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $55.84 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The company's 50-day moving average is $104.24 and its 200 day moving average is $99.30. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.24 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 quarter in the previous year, the company earned $1.23 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The business also recently declared 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.56%. American Electric Power's payout ratio is 66.43%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley upped their target price on shares of American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. 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. Finally, Guggenheim upgraded shares of American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $100.77.
Check Out 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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