Pictet Asset Management Holding SA decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,932 shares of the company's stock after selling 5,029 shares during the quarter. Pictet Asset Management Holding SA's holdings in American Electric Power were worth $17,979,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power during the fourth quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. Safe Harbor Fiduciary LLC bought a new position in shares of American Electric Power during the third quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in American Electric Power during the 4th quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. Bank of America raised their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. 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. Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. One equities research 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, American Electric Power has an average rating of "Hold" and a consensus price target of $100.77.
Get Our Latest Report on AEP
American Electric Power Price Performance
Shares of AEP traded down $4.63 during mid-day trading on Friday, reaching $104.48. The company had a trading volume of 7,367,841 shares, compared to its average volume of 3,107,684. The company has a market capitalization of $55.76 billion, a price-to-earnings ratio of 18.66, a P/E/G 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. The company's 50 day simple moving average is $103.79 and its 200 day simple moving average is $99.23. 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 issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share 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 period last year, the company earned $1.23 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.56%. American Electric Power's dividend payout ratio is presently 66.43%.
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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