BI Asset Management Fondsmaeglerselskab A S Invests $2.03 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,952 shares of the company’s stock, valued at approximately $2,025,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEP. DAVENPORT & Co LLC boosted its position in shares of American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after buying an additional 3,288 shares during the last quarter. Secure Asset Management LLC grew its stake in shares of American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after acquiring an additional 4,370 shares during the period. Grove Bank & Trust raised its holdings in shares of American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc bought a new position in American Electric Power during the fourth quarter valued at approximately $419,000. Finally, Principal Financial Group Inc. boosted its holdings in American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after purchasing an additional 19,081 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEP. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America increased their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley upped their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.08.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $105.53 on Tuesday. The company has a market capitalization of $56.32 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.97 and a beta of 0.43. 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 stock’s 50-day simple moving average is $104.94 and its 200-day simple moving average is $99.50. American Electric Power Company, Inc. has a 52 week low of $83.68 and a 52 week high of $110.48.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results 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 return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm posted $1.23 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

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.