Enhancing Capital LLC Invests $2.80 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Enhancing Capital LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,300 shares of the company’s stock, valued at approximately $2,795,000. American Electric Power accounts for 2.2% of Enhancing Capital LLC’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in American Electric Power by 4.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its stake in American Electric Power by 2.9% during the 3rd 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 in the last quarter. FMR LLC lifted its stake in American Electric Power by 18.8% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in American Electric Power by 2.2% during the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in American Electric Power by 2.3% in the 4th 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 and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AEP shares. Barclays reduced their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Morgan Stanley reduced their price target on 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. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.46.

American Electric Power Trading Up 0.3 %

NASDAQ:AEP opened at $105.86 on Tuesday. The stock’s 50 day moving average price is $100.80 and its 200 day moving average price is $98.91. The company has a market capitalization of $56.45 billion, a PE ratio of 18.90, a P/E/G ratio of 2.97 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.51%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

American Electric Power Company 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.