Empirical Finance LLC Acquires 2,060 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Empirical Finance LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,210 shares of the company’s stock after purchasing an additional 2,060 shares during the period. Empirical Finance LLC’s holdings in American Electric Power were worth $1,056,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of American Electric Power by 4.8% during the 2nd quarter. State Street Corp now owns 29,105,487 shares of the company’s stock worth $2,792,380,000 after acquiring an additional 1,327,884 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of American Electric Power by 64.0% in the second quarter. Macquarie Group Ltd. now owns 2,859,696 shares of the company’s stock worth $204,634,000 after acquiring an additional 1,116,136 shares during the period. Natixis acquired a new stake in shares of American Electric Power in the second quarter worth $52,432,000. Mackenzie Financial Corp increased its stake in shares of American Electric Power by 77.8% in the second quarter. Mackenzie Financial Corp now owns 1,064,788 shares of the company’s stock worth $102,156,000 after acquiring an additional 466,033 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of American Electric Power by 1,551.5% in the first quarter. Clearbridge Investments LLC now owns 477,820 shares of the company’s stock worth $47,672,000 after acquiring an additional 448,887 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $92.70 on Wednesday. The firm has a 50-day simple moving average of $95.02 and a 200-day simple moving average of $94.13. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.42. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. American Electric Power Company, Inc. has a 52 week low of $80.30 and a 52 week high of $105.60.

American Electric Power (NASDAQ:AEPGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. American Electric Power had a net margin of 13.08% and a return on equity of 10.73%. The business had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.03 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 10th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s dividend payout ratio (DPR) is presently 68.74%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AEP shares. Mizuho cut their price objective on shares of American Electric Power from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Friday, December 16th. Credit Suisse Group increased their price target on shares of American Electric Power from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, December 16th. StockNews.com initiated coverage on shares of American Electric Power in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Bank of America downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $101.00 to $98.00 in a report on Monday, December 19th. Finally, Wells Fargo & Company increased their price objective on shares of American Electric Power from $96.00 to $108.00 in a report on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Moderate Buy” and an average target price of $101.82.

About American Electric Power

(Get Rating)

American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.

Featured Articles

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEPGet Rating).

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.