Gallagher Fiduciary Advisors LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 9,327 shares of the company’s stock, valued at approximately $849,000.
Several other large investors also recently added to or reduced their stakes in AEP. Penserra Capital Management LLC purchased a new stake in American Electric Power during the first quarter valued at approximately $27,000. AXS Investments LLC purchased a new position in American Electric Power in the fourth quarter valued at $27,000. Dark Forest Capital Management LP grew its position in shares of American Electric Power by 91.9% in the fourth quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock valued at $27,000 after purchasing an additional 136 shares during the period. True Wealth Design LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $28,000. Finally, Horizon Bancorp Inc. IN boosted its position in American Electric Power by 66.7% during the first quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. 74.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on AEP shares. The Goldman Sachs Group initiated coverage on shares of American Electric Power in a report on Wednesday, June 7th. They issued a “buy” rating and a $98.00 target price on the stock. Morgan Stanley cut their target price on shares of American Electric Power from $101.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Barclays assumed coverage on shares of American Electric Power in a research note on Wednesday, August 23rd. They set an “overweight” rating and a $88.00 target price on the stock. Mizuho cut their target price on shares of American Electric Power from $94.00 to $93.00 in a research note on Thursday, July 6th. Finally, Guggenheim cut their target price on shares of American Electric Power from $105.00 to $96.00 in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.97.
American Electric Power Trading Down 0.0 %
Shares of American Electric Power stock opened at $77.78 on Tuesday. The stock has a market cap of $40.07 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.62 and a beta of 0.46. The company has a fifty day simple moving average of $82.26 and a 200-day simple moving average of $86.18. The company has a current ratio of 0.61, a quick ratio of 0.48 and a debt-to-equity ratio of 1.52. American Electric Power Company, Inc. has a 12-month low of $75.47 and a 12-month high of $104.89.
American Electric Power (NASDAQ:AEP – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.70 billion. American Electric Power had a return on equity of 10.44% and a net margin of 10.20%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.
American Electric Power Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.32 dividend on an annualized basis and a yield of 4.27%. American Electric Power’s payout ratio is currently 86.01%.
American Electric Power Company Profile
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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