abrdn plc Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

abrdn plc grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,063 shares of the company’s stock after buying an additional 4,876 shares during the period. abrdn plc’s holdings in American Electric Power were worth $20,960,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AEP. ZWJ Investment Counsel Inc. boosted its position in shares of American Electric Power by 0.8% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 309,139 shares of the company’s stock worth $25,108,000 after purchasing an additional 2,302 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $32,000. Beaumont Financial Advisors LLC boosted its position in shares of American Electric Power by 875.3% during the 4th quarter. Beaumont Financial Advisors LLC now owns 51,262 shares of the company’s stock worth $4,164,000 after purchasing an additional 46,006 shares during the period. HTLF Bank purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $249,000. Finally, Gray Wealth Management Inc. boosted its position in shares of American Electric Power by 8.2% during the 4th quarter. Gray Wealth Management Inc. now owns 3,628 shares of the company’s stock worth $295,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $85.56 on Wednesday. The company’s fifty day moving average price is $83.19 and its 200 day moving average price is $80.25. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $94.73. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a market capitalization of $45.06 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.98 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. American Electric Power’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.54 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.11%. American Electric Power’s payout ratio is currently 82.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AEP shares. Cfra reiterated a “buy” rating and set a $92.00 target price (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Barclays increased their target price on shares of American Electric Power from $83.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets increased their target price on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Scotiabank reduced their price objective on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, StockNews.com lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.08.

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.