Edgestream Partners L.P. Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Edgestream Partners L.P. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 57,548 shares of the company’s stock after acquiring an additional 2,114 shares during the quarter. Edgestream Partners L.P.’s holdings in American Electric Power were worth $5,308,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its holdings in shares of American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after acquiring an additional 3,288 shares during the last quarter. Secure Asset Management LLC increased its stake in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust increased its stake 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 purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc acquired a new stake in American Electric Power during the fourth quarter worth approximately $419,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after buying an additional 19,081 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Barclays cut their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power Stock Performance

Shares of AEP opened at $104.62 on Friday. The stock has a market capitalization of $55.78 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.97 and a beta of 0.50. 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 Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52. The company’s fifty day moving average is $98.96 and its two-hundred day moving average is $98.58.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the business earned $1.23 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.56%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

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.