Centricity Wealth Management LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Centricity Wealth Management LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,076 shares of the company’s stock, valued at approximately $191,000.

A number of other hedge funds have also modified their holdings of the stock. Pathway Financial Advisers LLC boosted its stake in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. State Street Corp boosted its stake in shares of American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC grew its holdings in shares of American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $80,207,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

American Electric Power stock opened at $104.35 on Friday. The company has a market cap of $55.64 billion, a PE ratio of 18.63, a PEG ratio of 2.89 and a beta of 0.58. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $105.18. The company’s 50-day moving average is $96.26 and its two-hundred day moving average is $98.04.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting 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 period in the previous year, the firm earned $1.23 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group increased their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.