Ensign Peak Advisors Inc reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 293,087 shares of the company's stock after selling 2,406 shares during the period. Ensign Peak Advisors Inc owned 0.06% of American Electric Power worth $27,031,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power in the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $35,000. Finally, Lee Danner & Bass Inc. acquired a new stake in American Electric Power during the fourth quarter worth approximately $38,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power Price Performance
AEP traded down $0.97 during trading on Wednesday, reaching $98.59. 5,206,998 shares of the company were exchanged, compared to its average volume of 3,188,159. The company's 50-day moving average is $105.55 and its two-hundred day moving average is $100.27. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The company has a market cap of $52.67 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 2.97 and a beta of 0.45. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter last year, the firm posted $1.27 EPS. The company's revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.77%. American Electric Power's payout ratio is currently 71.68%.
Analyst Upgrades and Downgrades
AEP has been the subject of several recent analyst reports. Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. BMO Capital Markets increased their price target on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Citigroup raised their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Bank of America raised their target price 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 issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $105.77.
Read Our Latest Stock Report on American Electric Power
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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