MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 404,280 shares of the company’s stock after buying an additional 29,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in American Electric Power were worth $37,287,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AEP. BMO Capital Markets boosted their price target on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Guggenheim boosted their price target on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Barclays boosted their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Finally, Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $105.77.

American Electric Power Stock Down 1.4%

Shares of NASDAQ AEP opened at $99.56 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a market capitalization of $53.18 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.97 and a beta of 0.45. The stock has a 50 day moving average price of $105.55 and a 200 day moving average price of $100.27. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. American Electric Power’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Friday, May 9th. American Electric Power’s payout ratio is presently 71.68%.

About American Electric Power

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.