2,620 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,620 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in American Electric Power by 14.4% in the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after acquiring an additional 3,589,451 shares during the period. Lazard Asset Management LLC increased its position in American Electric Power by 2,331.2% in the 2nd quarter. Lazard Asset Management LLC now owns 3,650,830 shares of the company’s stock valued at $307,398,000 after acquiring an additional 3,500,662 shares during the period. Moneta Group Investment Advisors LLC increased its position in American Electric Power by 99,268.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,804,171 shares of the company’s stock valued at $266,256,000 after acquiring an additional 2,801,349 shares during the period. Morgan Stanley increased its position in American Electric Power by 23.7% in the 4th quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock valued at $1,268,278,000 after acquiring an additional 2,560,192 shares during the period. Finally, Royal Bank of Canada increased its position in American Electric Power by 41.7% in the 2nd quarter. Royal Bank of Canada now owns 7,340,523 shares of the company’s stock valued at $618,073,000 after acquiring an additional 2,161,083 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP traded down $0.40 during mid-day trading on Wednesday, reaching $84.81. The company had a trading volume of 254,577 shares, compared to its average volume of 3,954,392. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock has a market cap of $44.66 billion, a PE ratio of 20.05, a P/E/G ratio of 2.99 and a beta of 0.51. The company has a 50-day moving average price of $81.54 and a two-hundred day moving average price of $79.49. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $96.05.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s payout ratio is 82.82%.

Analyst Upgrades and Downgrades

AEP has been the topic of several analyst reports. Cfra restated a “buy” rating and issued a $92.00 target price (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. UBS Group cut American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the company from $86.00 to $83.00 in a research report on Monday, March 11th. Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. LADENBURG THALM/SH SH cut American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $75.50 to $73.00 in a research report on Friday, March 8th. Finally, Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $87.08.

Check Out Our Latest Stock Analysis on AEP

American Electric Power Profile

(Free Report)

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.

See Also

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:AEPFree Report).

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

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