Frank Rimerman Advisors LLC Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Frank Rimerman Advisors LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,283 shares of the company’s stock after buying an additional 498 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in American Electric Power were worth $764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position 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 worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $1,280,655,000 after acquiring an additional 352,588 shares during the last quarter. FMR LLC boosted its position 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 worth $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 worth $427,009,000 after acquiring an additional 100,578 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 worth $354,551,000 after acquiring an additional 84,704 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.3 %

NASDAQ AEP opened at $105.56 on Friday. The company’s fifty day simple moving average is $100.49 and its 200-day simple moving average is $98.87. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week 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 stock has a market cap of $56.29 billion, a P/E ratio of 18.85, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted 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 company earned $1.23 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.52%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Wall Street Analyst Weigh In

AEP has been the topic of several research analyst reports. 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 research report on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One 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. Based on data from MarketBeat.com, American Electric Power currently has an average 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.