Zurcher Kantonalbank Zurich Cantonalbank Purchases 22,120 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,935 shares of the company’s stock after purchasing an additional 22,120 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American Electric Power were worth $11,892,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 buying an additional 352,588 shares during the period. FMR LLC increased its stake in shares of American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of American Electric Power by 2.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock valued at $427,009,000 after acquiring an additional 100,578 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in American Electric Power by 2.3% during the 4th 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. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Morgan Stanley dropped their price objective on 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. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One equities 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.46.

American Electric Power Stock Down 1.4 %

Shares of American Electric Power stock opened at $102.96 on Thursday. The firm has a market cap of $54.90 billion, a PE ratio of 18.39, a P/E/G ratio of 2.97 and a beta of 0.50. The business’s 50 day simple moving average is $99.97 and its 200 day simple moving average is $98.78. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. 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 posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting 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 prior year, the firm earned $1.23 EPS. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.61%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

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.