First Hawaiian Bank Acquires 5,324 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First Hawaiian Bank grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 35.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,171 shares of the company’s stock after purchasing an additional 5,324 shares during the period. First Hawaiian Bank’s holdings in American Electric Power were worth $1,860,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares in the last quarter. New England Asset Management Inc. purchased a new stake in shares of American Electric Power during the 3rd quarter valued at about $3,404,000. ING Groep NV grew its stake in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after acquiring an additional 208,974 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of American Electric Power during the third quarter valued at approximately $1,815,000. Finally, L & S Advisors Inc bought a new position in American Electric Power during the second quarter valued at approximately $2,398,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 2.0 %

Shares of AEP opened at $92.26 on Thursday. The business’s 50 day moving average is $94.92 and its 200 day moving average is $96.55. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The company has a market capitalization of $49.09 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 4.03%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AEP shares. Morgan Stanley cut their target price on shares of 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. 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 report on Thursday, November 7th. BMO Capital Markets increased their target price on American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.13.

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.