American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,120,568 shares of the company's stock after buying an additional 1,105,317 shares during the period. Bank of America Corp DE owned 0.96% of American Electric Power worth $472,270,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AEP. DAVENPORT & Co LLC boosted its stake in shares of American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock valued at $5,310,000 after buying an additional 3,288 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company's stock valued at $2,206,000 after buying an additional 4,370 shares in the last quarter. Grove Bank & Trust boosted its position in American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company's stock worth $654,000 after purchasing an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new stake in American Electric Power during the fourth quarter worth $419,000. Finally, Principal Financial Group Inc. boosted its position in American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company's stock worth $65,667,000 after purchasing an additional 19,081 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of a number of research analyst reports. Bank of America boosted 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. BMO Capital Markets upped their target price 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. Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Barclays upped their price objective on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley set a $114.00 price objective on American Electric Power and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $105.77.

American Electric Power Stock Down 2.3%

NASDAQ AEP traded down $2.37 during mid-day trading on Monday, reaching $102.31. 847,628 shares of the company's stock traded hands, compared to its average volume of 3,152,716. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The company has a fifty day simple moving average of $105.65 and a 200-day simple moving average of $100.26. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The company has a market cap of $54.65 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the firm earned $1.27 EPS. American Electric Power's quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.64%. American Electric Power's payout ratio is 71.68%.

American Electric Power Profile

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.