Hartford Funds Management Co LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Funds Management Co LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.2% during the fourth quarter, HoldingsChannel reports. The firm owned 15,498 shares of the company’s stock after buying an additional 1,171 shares during the period. American Electric Power comprises about 0.1% of Hartford Funds Management Co LLC’s portfolio, making the stock its 24th biggest holding. Hartford Funds Management Co LLC’s holdings in American Electric Power were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the third quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new position in shares of American Electric Power during the fourth quarter worth approximately $35,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter worth approximately $35,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of American Electric Power during the fourth quarter worth approximately $49,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AEP shares. Morgan Stanley decreased 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 note on Friday, November 22nd. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. UBS Group raised their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Finally, Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power Stock Performance

NASDAQ:AEP opened at $102.59 on Friday. The stock has a market cap of $54.70 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The firm’s fifty day simple moving average is $98.96 and its 200 day simple moving average is $98.58. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. 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 (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate 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 company earned $1.23 EPS. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 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.