Seascape Capital Management Purchases Shares of 28,993 American Electric Power Company, Inc. (NASDAQ:AEP)

Seascape Capital Management bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 28,993 shares of the company's stock, valued at approximately $2,674,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its stake in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock valued at $203,399,000 after acquiring an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC increased its stake in American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. State Street Corp lifted its holdings in American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company's stock worth $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. FMR LLC raised its stake in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after acquiring an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in American Electric Power during the 3rd quarter worth about $80,207,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.9 %

Shares of AEP stock traded up $0.89 during trading hours on Wednesday, hitting $103.09. 2,510,081 shares of the company were exchanged, compared to its average volume of 3,311,624. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $105.18. The stock has a market capitalization of $54.97 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.88 and a beta of 0.58. 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 business's 50-day simple moving average is $96.03 and its two-hundred day simple moving average is $97.99.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate 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 in the prior year, the company earned $1.23 earnings per share. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is currently 66.43%.

Analyst Upgrades and Downgrades

AEP has been the topic of several research analyst reports. Morgan Stanley cut their target price on American Electric Power from $109.00 to $104.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a report on Thursday, November 7th. Bank of America raised shares of American Electric Power from an "underperform" rating to a "buy" rating and upped their price target for the company from $98.00 to $104.00 in a report on Monday, January 13th. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reiterated 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $98.00.

About American Electric Power

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.