Glenview Trust co Buys 7,509 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Glenview Trust co grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 148.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,566 shares of the company’s stock after buying an additional 7,509 shares during the period. Glenview Trust co’s holdings in American Electric Power were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of American Electric Power by 2.9% in the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC grew its holdings in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of American Electric Power by 2.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock valued at $427,009,000 after purchasing an additional 100,578 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of American Electric Power by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,844,201 shares of the company’s stock valued at $354,551,000 after purchasing an additional 84,704 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.3 %

Shares of AEP opened at $105.86 on Tuesday. The firm has a market capitalization of $56.45 billion, a P/E ratio of 18.90, a P/E/G 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 company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $100.80 and a 200-day moving average price of $98.91.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting 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 last year, the company earned $1.23 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.51%. American Electric Power’s payout ratio is currently 66.43%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AEP. Morgan Stanley cut their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Barclays dropped their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Finally, Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $98.46.

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.