Westpac Banking Corp purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,700 shares of the company's stock, valued at approximately $1,171,000.
A number of other institutional investors have also modified their holdings of the company. OneAscent Financial Services LLC lifted its position in American Electric Power by 28.8% during the fourth quarter. OneAscent Financial Services LLC now owns 5,117 shares of the company's stock valued at $472,000 after acquiring an additional 1,143 shares during the last quarter. Huntington National Bank increased its position in shares of American Electric Power by 5.1% during the fourth quarter. Huntington National Bank now owns 989,453 shares of the company's stock worth $91,257,000 after purchasing an additional 48,079 shares in the last quarter. Columbia Asset Management lifted its holdings in shares of American Electric Power by 1.4% during the 4th quarter. Columbia Asset Management now owns 9,496 shares of the company's stock valued at $876,000 after purchasing an additional 128 shares during the last quarter. RFG Bristol Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth $318,000. Finally, Trexquant Investment LP purchased a new position in American Electric Power during the 4th quarter worth $3,258,000. 75.24% of the stock is currently owned by institutional investors.
American Electric Power Stock Performance
Shares of AEP stock traded down $4.63 on Friday, hitting $104.48. The company had a trading volume of 7,367,841 shares, compared to its average volume of 3,107,684. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $110.48. 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 P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The company has a 50-day moving average price of $103.79 and a 200-day moving average price of $99.23.
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, meeting analysts' consensus estimates 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 prior year, the firm earned $1.23 earnings per share. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.
American Electric Power Dividend Announcement
The company 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. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.56%. American Electric Power's payout ratio is 66.43%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. BMO Capital Markets increased their price target on American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Bank of America boosted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. 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. Finally, Morgan Stanley lifted their price objective on shares of American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $100.77.
Check Out Our Latest Report on AEP
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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