Envestnet Asset Management Inc. Increases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Asset Management Inc. raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,176,835 shares of the company’s stock after buying an additional 73,545 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American Electric Power were worth $292,999,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its stake in American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after purchasing an additional 3,288 shares in the last quarter. Secure Asset Management LLC lifted its stake in shares of American Electric Power by 22.4% during the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after buying an additional 4,370 shares during the period. Grove Bank & Trust grew its holdings in shares of American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares during the last quarter. J2 Capital Management Inc acquired a new position in shares of American Electric Power in the 4th quarter valued at $419,000. Finally, Principal Financial Group Inc. lifted its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after acquiring an additional 19,081 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of a number of research reports. BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Bank of America increased their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Finally, Guggenheim upgraded shares of 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 assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $100.77.

American Electric Power Price Performance

NASDAQ:AEP opened at $104.48 on Friday. The stock has a market capitalization of $55.76 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The stock’s 50-day moving average price is $103.79 and its 200-day moving average price is $99.26.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

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.