Tocqueville Asset Management L.P. Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Tocqueville Asset Management L.P. lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,095 shares of the company's stock after purchasing an additional 13,205 shares during the period. Tocqueville Asset Management L.P.'s holdings in American Electric Power were worth $6,280,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. SouthState Corp raised its position in shares of American Electric Power by 1.6% in the fourth quarter. SouthState Corp now owns 6,611 shares of the company's stock valued at $610,000 after purchasing an additional 102 shares during the period. PSI Advisors LLC raised its position in shares of American Electric Power by 10.6% in the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company's stock valued at $103,000 after purchasing an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its position in shares of American Electric Power by 3.7% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company's stock valued at $286,000 after purchasing an additional 112 shares during the period. Albion Financial Group UT raised its position in shares of American Electric Power by 0.9% in the fourth quarter. Albion Financial Group UT now owns 12,132 shares of the company's stock valued at $1,119,000 after purchasing an additional 112 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of American Electric Power by 11.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company's stock valued at $103,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on shares of American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Thursday. Scotiabank lowered shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Bank of America upped their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $99.92.

American Electric Power Trading Down 1.0 %

Shares of American Electric Power stock traded down $1.10 during trading on Friday, reaching $105.11. The company's stock had a trading volume of 5,649,156 shares, compared to its average volume of 2,761,226. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. The company has a market cap of $56.10 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.97 and a beta of 0.50. The firm's 50-day moving average is $101.89 and its two-hundred day moving average is $99.08. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

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 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 period in the previous year, the business posted $1.23 earnings per share. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.54%. American Electric Power's dividend payout ratio (DPR) is 66.43%.

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.