Fairway Wealth LLC Invests $32,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Fairway Wealth LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 346 shares of the company’s stock, valued at approximately $32,000.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its position in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the period. Geode Capital Management LLC grew its position in shares of American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after buying an additional 352,588 shares during the period. FMR LLC grew its position in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of American Electric Power by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock worth $427,009,000 after buying an additional 100,578 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of American Electric Power by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,844,201 shares of the company’s stock worth $354,551,000 after buying an additional 84,704 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several research reports. Barclays reduced their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.46.

American Electric Power Trading Up 2.6 %

NASDAQ AEP opened at $107.32 on Tuesday. The stock has a market capitalization of $57.22 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $109.52. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The business’s fifty day moving average is $99.51 and its 200-day moving average is $98.71.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the previous year, the business posted $1.23 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

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.