Zimmer Partners LP Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Zimmer Partners LP grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 104.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 955,156 shares of the company's stock after buying an additional 487,032 shares during the quarter. American Electric Power accounts for approximately 1.5% of Zimmer Partners LP's portfolio, making the stock its 18th biggest position. Zimmer Partners LP owned approximately 0.18% of American Electric Power worth $88,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AEP. JPMorgan Chase & Co. boosted its stake in shares of American Electric Power by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock valued at $315,498,000 after buying an additional 738,756 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in American Electric Power by 2.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,596 shares of the company's stock worth $977,000 after purchasing an additional 248 shares during the last quarter. Merit Financial Group LLC lifted its stake in American Electric Power by 136.6% during the fourth quarter. Merit Financial Group LLC now owns 13,714 shares of the company's stock worth $1,265,000 after purchasing an additional 7,918 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in American Electric Power by 49.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 5,523 shares of the company's stock worth $509,000 after purchasing an additional 1,817 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in American Electric Power by 15.2% during the fourth quarter. HB Wealth Management LLC now owns 35,900 shares of the company's stock worth $3,311,000 after purchasing an additional 4,741 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AEP shares. Guggenheim boosted 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. 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 note on Tuesday, March 18th. Citigroup boosted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their target price on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $114.00 price target on American Electric Power and gave the stock 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 assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, American Electric Power has a consensus rating of "Hold" and a consensus price target of $105.77.

American Electric Power Trading Up 0.7%

Shares of AEP stock opened at $103.78 on Tuesday. The business's fifty day moving average price is $105.30 and its 200 day moving average price is $100.39. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The firm has a market capitalization of $55.44 billion, a PE ratio of 18.53, a P/E/G 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 data on Tuesday, May 6th. The company reported $1.54 earnings per share 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 firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. American Electric Power's quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed 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. This represents a $3.72 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date 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.

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