1832 Asset Management L.P. Purchases 228,568 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

1832 Asset Management L.P. grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1,049.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,348 shares of the company’s stock after buying an additional 228,568 shares during the quarter. 1832 Asset Management L.P.’s holdings in American Electric Power were worth $21,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in shares of American Electric Power in the fourth quarter valued at about $175,667,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of American Electric Power by 221.9% in the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of American Electric Power by 67.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after purchasing an additional 1,043,885 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised their price target on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America upped their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets lifted their price target on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.00.

American Electric Power Stock Performance

AEP stock opened at $102.53 on Tuesday. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $54.05 billion, a PE ratio of 19.02, a P/E/G ratio of 2.95 and a beta of 0.54. The business’s 50-day moving average price is $98.82 and its two-hundred day moving average price is $91.06.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.13 EPS. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.43%. American Electric Power’s payout ratio is 65.31%.

American Electric Power Company 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.