Zacks Investment Management reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 748,446 shares of the company's stock after selling 33,303 shares during the period. Zacks Investment Management owned approximately 0.14% of American Electric Power worth $69,029,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in AEP. Raymond James Financial Inc. acquired a new position in American Electric Power in the fourth quarter worth $220,983,000. Cohen & Steers Inc. bought a new stake in American Electric Power in the fourth quarter worth about $121,605,000. Vanguard Group Inc. boosted its holdings in American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after buying an additional 763,813 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of American Electric Power by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock worth $315,498,000 after purchasing an additional 738,756 shares during the period. Finally, Invesco Ltd. increased its position in shares of American Electric Power by 9.1% in the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock worth $793,510,000 after acquiring an additional 716,229 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on AEP. BMO Capital Markets raised their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday. Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Morgan Stanley lifted 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, March 20th. Finally, Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $101.08.
Read Our Latest Analysis on American Electric Power
American Electric Power Trading Down 1.8 %
NASDAQ:AEP traded down $1.93 during trading hours on Monday, hitting $105.78. The company had a trading volume of 394,743 shares, compared to its average volume of 3,155,462. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 52 week low of $83.68 and a 52 week high of $110.48. The company has a market capitalization of $56.45 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The stock has a 50-day moving average price of $104.88 and a 200 day moving average price of $99.46.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 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 quarter last year, the company earned $1.23 earnings per share. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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 3.52%. American Electric Power's dividend payout ratio is currently 66.43%.
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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