Fairway Wealth LLC Acquires New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Fairway Wealth LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, Holdings Channel reports. The fund bought 346 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its holdings in American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after buying an additional 3,288 shares in the last quarter. Secure Asset Management LLC grew its holdings in American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after buying an additional 4,370 shares in the last quarter. Grove Bank & Trust grew its holdings in American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new position in American Electric Power during the 4th quarter valued at about $419,000. Finally, Principal Financial Group Inc. grew its holdings in American Electric Power by 3.1% during 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.

American Electric Power Stock Up 2.6 %

Shares of AEP opened at $107.32 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52. The stock has a 50 day simple moving average of $99.51 and a two-hundred day simple moving average of $98.71. The firm has a market cap of $57.22 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share 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 company earned $1.23 earnings per share. On average, analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.47%. American Electric Power’s payout ratio is currently 66.43%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AEP shares. BMO Capital Markets cut their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley cut their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.46.

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.