LPL Financial LLC Grows Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

LPL Financial LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 987,885 shares of the company’s stock after buying an additional 112,807 shares during the period. LPL Financial LLC owned approximately 0.19% of American Electric Power worth $91,113,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the third quarter worth approximately $33,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power in the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new stake in American Electric Power in the fourth quarter valued at $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

AEP stock opened at $102.50 on Wednesday. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52. The stock has a market capitalization of $54.70 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.97 and a beta of 0.50. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock’s fifty day moving average is $102.24 and its two-hundred day moving average is $99.05.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data 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 prior year, the firm posted $1.23 EPS. On average, 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 was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.63%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

Analyst Ratings Changes

AEP has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Morgan Stanley increased their target price on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. BMO Capital Markets decreased their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $99.92.

About American Electric Power

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.