Sumitomo Mitsui DS Asset Management Company Ltd Has $6.83 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,586 shares of the company’s stock after buying an additional 1,752 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Electric Power were worth $6,832,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Hodges Capital Management Inc. acquired a new position in shares of American Electric Power in the 1st quarter valued at $1,615,000. Quantbot Technologies LP acquired a new position in American Electric Power in the first quarter valued at about $1,731,000. Nordea Investment Management AB boosted its holdings in American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC grew its position in shares of American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of American Electric Power by 21.7% in the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after acquiring an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Down 0.2 %

NASDAQ AEP opened at $100.69 on Friday. The stock has a market capitalization of $53.08 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52 week low of $72.01 and a 52 week high of $105.18. The stock’s 50 day moving average price is $100.43 and its two-hundred day moving average price is $93.34. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday. Guggenheim boosted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets raised their price target on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $98.43.

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.