QRG Capital Management Inc. Purchases 5,588 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

QRG Capital Management Inc. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,296 shares of the company’s stock after purchasing an additional 5,588 shares during the quarter. QRG Capital Management Inc.’s holdings in American Electric Power were worth $4,816,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in American Electric Power in the 4th quarter valued at $32,000. GoalVest Advisory LLC boosted its stake in shares of American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the period. JNBA Financial Advisors increased its position in shares of American Electric Power by 91.6% during the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after acquiring an additional 229 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in American Electric Power in the third quarter worth approximately $36,000. Finally, Byrne Asset Management LLC purchased a new position in American Electric Power in the third quarter valued at $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEP. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their price target for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. LADENBURG THALM/SH SH cut shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $75.50 to $73.00 in a research report on Friday, March 8th. Royal Bank of Canada raised their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a report on Monday, January 22nd. Finally, Wells Fargo & Company boosted their price target on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.14.

Get Our Latest Research Report on American Electric Power

American Electric Power Stock Performance

American Electric Power stock traded down $0.11 during midday trading on Monday, reaching $91.50. 811,469 shares of the company traded hands, compared to its average volume of 3,680,002. The firm has a market capitalization of $48.23 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.83 and a beta of 0.50. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $92.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. The business has a 50 day moving average of $84.76 and a two-hundred day moving average of $81.51.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business posted $1.11 EPS. American Electric Power’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.85%. American Electric Power’s dividend payout ratio is 65.31%.

About American Electric Power

(Free Report)

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.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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