Wells Fargo & Company MN decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,325,811 shares of the company's stock after selling 118,671 shares during the quarter. Wells Fargo & Company MN owned 0.81% of American Electric Power worth $398,970,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in American Electric Power during the fourth quarter valued at $220,983,000. State Street Corp increased its stake in American Electric Power by 4.3% during the third 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. Zacks Investment Management acquired a new stake in shares of American Electric Power during the third quarter valued at about $80,207,000. Vanguard Group Inc. lifted its holdings in shares of American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after acquiring an additional 763,813 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of American Electric Power by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock valued at $315,498,000 after buying an additional 738,756 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Stock Performance
American Electric Power stock traded up $0.22 during midday trading on Thursday, hitting $102.57. 1,605,641 shares of the company's stock were exchanged, compared to its average volume of 3,156,192. 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 stock has a market cap of $54.74 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $110.48. The firm's 50 day simple moving average is $104.03 and its 200 day simple moving average is $99.26.
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 for the quarter, hitting 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 quarter in the prior year, the firm earned $1.23 earnings per share. Equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors 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 3.63%. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Guggenheim upgraded shares of American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. BMO Capital Markets boosted their target price on shares of American Electric Power from $107.00 to $111.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 26th. Finally, Scotiabank cut American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and an average target price of $100.77.
Get Our Latest Research Report on American Electric Power
American Electric Power Company Profile
(
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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