Vanguard Group Inc. Purchases 763,813 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Vanguard Group Inc. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,690,606 shares of the company’s stock after purchasing an additional 763,813 shares during the period. Vanguard Group Inc. owned 9.71% of American Electric Power worth $4,767,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its stake in American Electric Power by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 27,874 shares of the company’s stock valued at $2,860,000 after buying an additional 1,131 shares during the period. Quest Partners LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at about $377,000. Advisors Asset Management Inc. raised its position in shares of American Electric Power by 15.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,429 shares of the company’s stock valued at $2,199,000 after acquiring an additional 2,790 shares during the period. Meridian Wealth Management LLC bought a new position in American Electric Power during the 3rd quarter worth approximately $509,000. Finally, Great Valley Advisor Group Inc. boosted its stake in American Electric Power by 7.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,662 shares of the company’s stock worth $684,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AEP shares. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets reduced their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Morgan Stanley lifted their price objective on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $99.92.

American Electric Power Stock Performance

Shares of AEP opened at $104.18 on Tuesday. The stock has a market capitalization of $55.60 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $109.52. The firm has a fifty day simple moving average of $102.08 and a 200 day simple moving average of $99.05. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the business posted $1.23 earnings per share. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

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 dividend yield of 3.57%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) 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.