Bfsg LLC Grows Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Bfsg LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 450.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,863 shares of the company’s stock after acquiring an additional 9,709 shares during the period. Bfsg LLC’s holdings in American Electric Power were worth $1,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of American Electric Power by 542.4% during the 1st 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 period. Nordea Investment Management AB grew its stake in shares of American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after buying an additional 1,581,734 shares during the period. National Bank of Canada FI increased its holdings in shares of American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares during the last quarter. Zimmer Partners LP raised its position in shares of American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after buying an additional 831,235 shares during the period. Finally, Jennison Associates LLC acquired a new position in American Electric Power in the first quarter valued at $67,669,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $100.91 on Friday. The firm has a market cap of $53.19 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.79 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $100.37 and its two-hundred day moving average is $93.18. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.49%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Analysts Set New Price Targets

Several brokerages have commented on AEP. Wells Fargo & Company upped their price target on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, BMO Capital Markets upped their price target on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.14.

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.