Woodline Partners LP Takes $2.95 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Woodline Partners LP purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,983 shares of the company's stock, valued at approximately $2,950,000.

A number of other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of American Electric Power during the 4th quarter worth approximately $220,983,000. Lazard Asset Management LLC increased its stake in American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. Cohen & Steers Inc. acquired a new position in American Electric Power during the 4th quarter valued at approximately $121,605,000. Bank of America Corp DE increased its stake in American Electric Power by 27.5% during the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after purchasing an additional 1,105,317 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in American Electric Power by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock valued at $4,767,425,000 after purchasing an additional 763,813 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays upped their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Bank of America upped their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. BMO Capital Markets increased their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Guggenheim increased their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, American Electric Power has an average rating of "Hold" and a consensus price target of $105.69.

American Electric Power Stock Up 0.1%

Shares of AEP traded up $0.06 during midday trading on Friday, reaching $102.59. The stock had a trading volume of 545,667 shares, compared to its average volume of 3,195,835. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The company's fifty day simple moving average is $104.87 and its two-hundred day simple moving average is $100.66. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.97 and a beta of 0.45. 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 (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the business earned $1.27 EPS. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently disclosed 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.

About American Electric Power

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.