Sagefield Capital LP lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,418 shares of the company's stock after buying an additional 11,777 shares during the period. Sagefield Capital LP's holdings in American Electric Power were worth $4,650,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power during the fourth quarter worth $35,000. Kestra Investment Management LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth $35,000. Finally, Lee Danner & Bass Inc. bought a new position in American Electric Power during the fourth quarter worth about $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Trading Up 1.4%
AEP opened at $103.04 on Friday. 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 firm has a market cap of $55.04 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The stock has a 50-day moving average of $105.28 and a 200 day moving average of $100.32.
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 for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company's revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Bank of America upped their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. BMO Capital Markets boosted their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $105.77.
Get Our Latest Report on American Electric Power
About American Electric Power
(
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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