Benjamin Edwards Inc. trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,114 shares of the company's stock after selling 4,291 shares during the period. Benjamin Edwards Inc.'s holdings in American Electric Power were worth $5,919,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power during the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new stake in shares of American Electric Power in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $35,000. Kestra Investment Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at about $35,000. Finally, Lee Danner & Bass Inc. acquired a new position in American Electric Power during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Stock Performance
NASDAQ:AEP traded down $0.51 during mid-day trading on Friday, hitting $104.68. The stock had a trading volume of 3,056,954 shares, compared to its average volume of 3,161,627. 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 50 day simple moving average of $105.65 and a 200-day simple moving average of $100.25. The stock has a market capitalization of $55.92 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48.
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 (EPS) for the quarter, topping 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 business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the company posted $1.27 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.55%. American Electric Power's payout ratio is 71.68%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on AEP. Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company raised their target price on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Wednesday. Morgan Stanley set a $114.00 price target on American Electric Power and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. BMO Capital Markets raised their price objective 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. Finally, Barclays increased their target price on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. One investment 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.com, American Electric Power currently has an average rating of "Hold" and an average price target of $105.77.
Read Our Latest Stock Analysis on American Electric Power
American Electric Power 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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