Renaissance Technologies LLC Acquires New Shares in American Electric Power Company, Inc. (NASDAQ:AEP)

Renaissance Technologies LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 278,800 shares of the company's stock, valued at approximately $25,714,000. Renaissance Technologies LLC owned approximately 0.05% of American Electric Power at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new position in American Electric Power during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in American Electric Power in the fourth quarter valued at 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, Lee Danner & Bass Inc. bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. Bank of America raised 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. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. BMO Capital Markets upped their target price 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, Morgan Stanley boosted their price target on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $100.77.

American Electric Power Stock Performance

American Electric Power stock traded up $1.79 during midday trading on Friday, hitting $107.71. The company's stock had a trading volume of 3,156,599 shares, compared to its average volume of 3,176,871. The company has a 50-day moving average price of $104.76 and a two-hundred day moving average price of $99.45. American Electric Power Company, Inc. has a 1-year low of $80.77 and a 1-year high of $110.48. The company has a market cap of $57.48 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.97 and a beta of 0.43. 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 issued its quarterly 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 earned $1.23 earnings per share. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.

American Electric Power Profile

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.