New York Life Investment Management LLC Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

New York Life Investment Management LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,410 shares of the company’s stock after buying an additional 938 shares during the period. New York Life Investment Management LLC’s holdings in American Electric Power were worth $6,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after buying an additional 3,589,451 shares during the last quarter. Morgan Stanley raised its position in shares of American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares during the last quarter. Invesco Ltd. raised its position in shares of American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after purchasing an additional 1,181,706 shares during the last quarter. Royal Bank of Canada boosted its stake in American Electric Power by 5.1% in the 3rd quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock worth $580,308,000 after purchasing an additional 374,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in American Electric Power by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,428,035 shares of the company’s stock worth $333,077,000 after purchasing an additional 98,897 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.4 %

Shares of American Electric Power stock opened at $88.60 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $92.88. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.36 and a current ratio of 0.54. The company has a market cap of $46.70 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. The firm has a 50-day simple moving average of $83.97 and a two-hundred day simple moving average of $80.77.

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

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is presently 65.31%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AEP. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Thursday, January 11th. Guggenheim lowered American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a report on Monday, January 22nd. Barclays lifted their target price on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday. 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 report on Monday, March 11th. Finally, Wells Fargo & Company raised their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.14.

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.