Schroder Investment Management Group trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,025 shares of the company's stock after selling 15,040 shares during the period. Schroder Investment Management Group's holdings in American Electric Power were worth $7,551,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in American Electric Power in the third quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in American Electric Power during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in American Electric Power during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC acquired a new position in American Electric Power during the 4th quarter valued at about $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
AEP has been the topic of a number of research analyst reports. 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 note on Thursday, March 20th. Guggenheim upgraded shares of American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, BMO Capital Markets raised their target price on American Electric Power from $107.00 to $111.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 26th. 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.77.
View Our Latest Research Report on AEP
American Electric Power Stock Performance
Shares of NASDAQ AEP traded down $4.63 during midday trading on Friday, reaching $104.48. 7,367,841 shares of the stock were exchanged, compared to its average volume of 3,107,684. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market cap of $55.76 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.97 and a beta of 0.43. The firm has a 50-day simple moving average of $103.79 and a two-hundred day simple moving average of $99.23. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting 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 prior year, the firm earned $1.23 EPS. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power's payout ratio is currently 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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