MBB Public Markets I LLC Takes $3.26 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

MBB Public Markets I LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,201 shares of the company’s stock, valued at approximately $3,264,000.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. Nomura Holdings Inc. acquired a new stake in American Electric Power in the fourth quarter valued at approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB boosted its holdings in American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. National Bank of Canada FI increased its position in American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in American Electric Power by 67.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after buying an additional 1,043,885 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

AEP opened at $101.84 on Friday. The stock’s 50 day simple moving average is $99.71 and its 200-day simple moving average is $91.63. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a market cap of $53.68 billion, a PE ratio of 18.89, a P/E/G ratio of 2.93 and a beta of 0.54. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $105.18.

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

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AEP shares. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Morgan Stanley upped their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.43.

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.