Ethic Inc. Purchases New Shares in American Electric Power Company, Inc. (NASDAQ:AEP)

Ethic Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,224 shares of the company’s stock, valued at approximately $666,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power during the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in American Electric Power during the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new stake in American Electric Power during the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in American Electric Power during the 4th quarter valued at $35,000. Finally, Lee Danner & Bass Inc. bought a new position in American Electric Power in the 4th quarter valued at $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Down 1.0%

NASDAQ:AEP opened at $98.59 on Thursday. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $52.67 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.97 and a beta of 0.45. The stock’s fifty day simple moving average is $105.42 and its 200-day simple moving average is $100.26.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. Equities research 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.77%. American Electric Power’s dividend payout ratio is presently 71.68%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AEP shares. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Barclays increased their price objective on American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Morgan Stanley set a $114.00 price objective on American Electric Power and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price objective on American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.77.

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.