Steward Partners Investment Advisory LLC Boosts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Steward Partners Investment Advisory LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 49,655 shares of the company's stock after purchasing an additional 4,005 shares during the period. Steward Partners Investment Advisory LLC's holdings in American Electric Power were worth $4,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company's stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company's stock worth $1,280,655,000 after acquiring an additional 352,588 shares during the last quarter. FMR LLC increased its stake in shares of American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company's stock worth $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of American Electric Power by 2.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company's stock worth $427,009,000 after acquiring an additional 100,578 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of American Electric Power by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,844,201 shares of the company's stock worth $354,551,000 after acquiring an additional 84,704 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

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American Electric Power Trading Up 2.0 %

American Electric Power stock traded up $2.03 during midday trading on Friday, reaching $104.62. 4,042,200 shares of the stock traded hands, compared to its average volume of 3,396,798. The company has a 50-day simple moving average of $99.21 and a two-hundred day simple moving average of $98.64. 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 firm has a market cap of $55.78 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $109.52.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data 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 firm posted $1.23 earnings per share. Research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed 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 payout ratio is presently 66.43%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AEP. Scotiabank downgraded American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $105.00 to $102.00 in a research 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 research report on Thursday, December 12th. BMO Capital Markets cut their price objective on American Electric Power from $108.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Bank of America raised American Electric Power from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. One investment 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $98.46.

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.