Andra AP fonden Buys Shares of 59,400 American Electric Power Company, Inc. (NASDAQ:AEP)

Andra AP fonden purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 59,400 shares of the company’s stock, valued at approximately $5,212,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. purchased a new stake in American Electric Power in the fourth quarter valued at about $336,000. Dimensional Fund Advisors LP raised its position in shares of American Electric Power by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,114,929 shares of the company’s stock valued at $90,556,000 after purchasing an additional 62,141 shares during the last quarter. Principal Financial Group Inc. boosted its stake in American Electric Power by 1.4% in the 4th quarter. Principal Financial Group Inc. now owns 630,904 shares of the company’s stock worth $51,242,000 after purchasing an additional 8,517 shares in the last quarter. Ieq Capital LLC grew its position in American Electric Power by 15.0% during the 4th quarter. Ieq Capital LLC now owns 11,654 shares of the company’s stock worth $947,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in American Electric Power by 10.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 567,659 shares of the company’s stock valued at $47,331,000 after purchasing an additional 52,115 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ:AEP opened at $103.05 on Thursday. The company has a 50 day moving average price of $96.75 and a 200-day moving average price of $90.05. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $104.41. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share 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 during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is currently 65.31%.

Wall Street Analyst Weigh In

AEP has been the subject of several research reports. Barclays lifted their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their price target on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America increased their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Finally, Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.15.

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.