Raymond James Financial Inc. purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,395,993 shares of the company's stock, valued at approximately $220,983,000. Raymond James Financial Inc. owned 0.45% of American Electric Power at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $35,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $49,000. 75.24% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Scotiabank downgraded American Electric Power from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Barclays dropped their price target on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $98.46.
Read Our Latest Analysis on American Electric Power
American Electric Power Trading Up 2.0 %
NASDAQ:AEP traded up $2.03 during trading hours on Friday, hitting $104.62. The company had a trading volume of 4,042,200 shares, compared to its average volume of 3,396,798. 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 50-day moving average of $99.21 and a 200 day moving average of $98.64. The company has a market cap of $55.78 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.97 and a beta of 0.50. 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 issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting 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 period in the previous year, the company posted $1.23 earnings per share. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, February 10th. American Electric Power's dividend payout ratio (DPR) 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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