Tocqueville Asset Management L.P. Buys 13,205 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Tocqueville Asset Management L.P. grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,095 shares of the company’s stock after purchasing an additional 13,205 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in American Electric Power were worth $6,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SouthState Corp lifted its position in shares of American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after buying an additional 102 shares during the last quarter. PSI Advisors LLC raised its stake in American Electric Power by 10.6% in the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after acquiring an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in American Electric Power by 3.7% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock valued at $286,000 after acquiring an additional 112 shares during the period. Albion Financial Group UT lifted its holdings in American Electric Power by 0.9% during the fourth quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock valued at $1,119,000 after purchasing an additional 112 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in American Electric Power by 11.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company’s stock worth $103,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $105.99 on Wednesday. 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 50-day moving average price of $101.11 and a 200-day moving average price of $98.95. The company has a market cap of $56.52 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $109.52.

American Electric Power (NASDAQ:AEP) last released its quarterly 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 period in the previous year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced 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 was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.51%. American Electric Power’s dividend payout ratio is presently 66.43%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bank of America upped their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank cut 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Morgan Stanley cut their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.23.

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.