Resona Asset Management Co. Ltd. Acquires New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Resona Asset Management Co. Ltd. bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 164,965 shares of the company’s stock, valued at approximately $15,221,000.

Other large investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power during the third quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power during the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Electric Power during the fourth quarter valued at $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets increased their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Bank of America lifted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average target price of $100.77.

American Electric Power Stock Down 4.2 %

NASDAQ AEP opened at $104.48 on Friday. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week 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 company has a market capitalization of $55.76 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The stock’s 50-day moving average price is $103.79 and its 200-day moving average price is $99.26.

American Electric Power (NASDAQ:AEP) last released its 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 net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the previous year, the business posted $1.23 EPS. On average, equities research analysts predict 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 was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.56%. American Electric Power’s payout ratio is presently 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.