Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 567,659 shares of the company's stock after purchasing an additional 52,115 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.11% of American Electric Power worth $47,331,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at about $32,000. GoalVest Advisory LLC raised its position in shares of American Electric Power by 304.8% during the 4th quarter. GoalVest Advisory LLC now owns 425 shares of the company's stock worth $35,000 after purchasing an additional 320 shares during the period. JNBA Financial Advisors boosted its position in American Electric Power by 91.6% during the 3rd quarter. JNBA Financial Advisors now owns 479 shares of the company's stock valued at $36,000 after purchasing an additional 229 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of American Electric Power during the third quarter valued at $36,000. Finally, Byrne Asset Management LLC acquired a new position in American Electric Power during the 3rd quarter valued at about $38,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on AEP shares. BMO Capital Markets boosted their target price on American Electric Power from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday. Guggenheim downgraded American Electric Power from a "buy" rating to a "neutral" rating and set a $81.00 target price on the stock. in a research note on Monday, January 22nd. LADENBURG THALM/SH SH lowered shares of American Electric Power from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Barclays raised their price objective on American Electric Power from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. Finally, UBS Group downgraded American Electric Power from a "neutral" rating to a "sell" rating and decreased their target price for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $88.43.
View Our Latest Stock Report on AEP
American Electric Power Trading Up 1.3 %
Shares of NASDAQ:AEP traded up $1.18 during trading on Wednesday, reaching $91.97. The stock had a trading volume of 2,389,533 shares, compared to its average volume of 3,666,533. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $92.57. The firm's fifty day moving average is $85.19 and its 200 day moving average is $81.80. The stock has a market cap of $48.48 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 2.83 and a beta of 0.50. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.02. The firm had revenue of $5 billion for the quarter, compared to analysts' expectations of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.11 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.
American Electric Power Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 3.83%. American Electric Power's dividend payout ratio (DPR) is currently 65.31%.
American Electric Power Company 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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