Signaturefd LLC Grows Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Signaturefd LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 9,854 shares of the company’s stock after purchasing an additional 338 shares during the period. Signaturefd LLC’s holdings in American Electric Power were worth $909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AEP. Cibc World Markets Corp grew its stake in American Electric Power by 3.4% during the 4th quarter. Cibc World Markets Corp now owns 370,801 shares of the company’s stock worth $34,199,000 after buying an additional 12,173 shares during the last quarter. SouthState Corp grew its stake in American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after buying an additional 102 shares during the last quarter. GWN Securities Inc. purchased a new position in American Electric Power during the 4th quarter worth approximately $976,000. Glenview Trust co grew its stake in American Electric Power by 148.5% during the 4th quarter. Glenview Trust co now owns 12,566 shares of the company’s stock worth $1,159,000 after buying an additional 7,509 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in American Electric Power by 7.4% during the 4th quarter. Harbour Investments Inc. now owns 9,917 shares of the company’s stock worth $915,000 after buying an additional 687 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $99.23.

American Electric Power Stock Performance

Shares of AEP stock opened at $105.84 on Thursday. The stock has a fifty day moving average price of $101.38 and a 200 day moving average price of $99.00. The stock has a market cap of $56.44 billion, a PE ratio of 18.90, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52. 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 (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting 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 quarter in the prior year, the business earned $1.23 earnings per share. Sell-side 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 declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is 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.