FORA Capital LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,891 shares of the company's stock, valued at approximately $451,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AEP. DAVENPORT & Co LLC boosted its holdings in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock valued at $5,310,000 after purchasing an additional 3,288 shares in the last quarter. Secure Asset Management LLC boosted its stake in American Electric Power by 22.4% in the 4th 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 grew its position in American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company's stock valued at $654,000 after acquiring an additional 5,771 shares during the period. J2 Capital Management Inc acquired a new position in American Electric Power during the fourth quarter worth $419,000. Finally, Principal Financial Group Inc. raised its stake 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 acquiring an additional 19,081 shares in the last quarter. 75.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
AEP has been the topic of several analyst reports. Bank of America upped their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Wells Fargo & Company raised their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Citigroup boosted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Barclays raised their price target on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a 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 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 data from MarketBeat.com, American Electric Power presently has a consensus rating of "Hold" and a consensus target price of $105.77.
Get Our Latest Stock Analysis on American Electric Power
American Electric Power Trading Down 1.4%
AEP traded down $1.43 during mid-day trading on Tuesday, reaching $99.56. The stock had a trading volume of 4,603,490 shares, compared to its average volume of 3,177,201. The firm's fifty day simple moving average is $105.61 and its two-hundred day simple moving average is $100.28. The stock has a market capitalization of $53.18 billion, a P/E ratio of 17.78, 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. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio is 71.68%.
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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