Penobscot Investment Management Company Inc. Buys 750 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Penobscot Investment Management Company Inc. boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041 shares of the company’s stock after acquiring an additional 750 shares during the period. Penobscot Investment Management Company Inc.’s holdings in American Electric Power were worth $328,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Apella Capital LLC bought a new position in shares of American Electric Power in the 4th quarter worth about $348,000. Rockline Wealth Management LLC acquired a new stake in American Electric Power during the fourth quarter worth approximately $1,982,000. Nisa Investment Advisors LLC increased its holdings in American Electric Power by 28.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,065 shares in the last quarter. Nordea Investment Management AB lifted its stake in American Electric Power by 1,592.1% in the fourth quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock valued at $33,612,000 after buying an additional 389,675 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of American Electric Power by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock worth $190,432,000 after buying an additional 522,608 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Up 2.5 %

American Electric Power stock opened at $88.15 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $46.42 billion, a P/E ratio of 20.74, a P/E/G ratio of 3.06 and a beta of 0.51. The firm has a 50 day moving average price of $83.85 and a 200-day moving average price of $80.72. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $92.89.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.54 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.99%. American Electric Power’s dividend payout ratio is currently 82.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cfra reiterated a “buy” rating and set a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Thursday, January 11th. BMO Capital Markets raised their price objective on American Electric Power from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Scotiabank upped their target price on American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted 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 research report on Wednesday. Two equities research 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 company presently has an average rating of “Hold” and a consensus price target of $87.07.

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.