Lake Street Advisors Group LLC Has $415,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Lake Street Advisors Group LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.9% during the 4th quarter, HoldingsChannel reports. The fund owned 4,498 shares of the company’s stock after acquiring an additional 513 shares during the period. Lake Street Advisors Group LLC’s holdings in American Electric Power were worth $415,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. abrdn plc lifted its stake in shares of American Electric Power by 20.5% in the third quarter. abrdn plc now owns 359,708 shares of the company’s stock worth $36,967,000 after buying an additional 61,267 shares during the last quarter. Diversify Advisory Services LLC lifted its position in American Electric Power by 28.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,955 shares of the company’s stock worth $295,000 after acquiring an additional 663 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in American Electric Power during the third quarter valued at about $203,000. First Trust Direct Indexing L.P. boosted its holdings in American Electric Power by 24.4% during the third quarter. First Trust Direct Indexing L.P. now owns 19,780 shares of the company’s stock valued at $2,029,000 after acquiring an additional 3,886 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of American Electric Power by 23.2% in the third quarter. Pinnacle Associates Ltd. now owns 40,710 shares of the company’s stock valued at $4,177,000 after purchasing an additional 7,665 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AEP. 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. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays cut their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Finally, Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.46.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.16 on Friday. The stock has a market capitalization of $56.07 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $107.84. The firm has a 50 day moving average of $97.71 and a 200-day moving average of $98.31. 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 (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

American Electric Power 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.