American Electric Power Company, Inc. (NASDAQ:AEP) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 12,808,003 shares of the company’s stock after acquiring an additional 283,311 shares during the period. Geode Capital Management LLC’s holdings in American Electric Power were worth $1,178,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AEP. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the third quarter valued at $25,000. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power in the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new stake in American Electric Power in the 4th quarter valued at approximately $32,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the 3rd quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power in the fourth quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of AEP stock opened at $108.37 on Wednesday. The company has a market capitalization of $57.84 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.76. 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’s fifty day simple moving average is $103.23 and its 200-day simple moving average is $99.17.

American Electric Power (NASDAQ:AEP) last released its 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 net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the business posted $1.23 earnings per share. On average, sell-side 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 company 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 of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.43%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AEP. BMO Capital Markets raised their target price on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research note on Wednesday, March 26th. Scotiabank downgraded 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 research report on Thursday, December 12th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley lifted 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $100.77.

American Electric Power 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.