Carret Asset Management LLC Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Carret Asset Management LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,446 shares of the company’s stock after purchasing an additional 1,372 shares during the period. Carret Asset Management LLC’s holdings in American Electric Power were worth $4,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FSC Wealth Advisors LLC grew its stake in American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after purchasing an additional 242 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in American Electric Power in the fourth quarter worth approximately $32,000. GoalVest Advisory LLC grew its stake in American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in American Electric Power in the third quarter worth approximately $36,000. Finally, JNBA Financial Advisors grew its stake in American Electric Power by 91.6% in the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after purchasing an additional 229 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AEP shares. Scotiabank dropped their target price on American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a research report on Monday. BMO Capital Markets increased their target price on American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. StockNews.com cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Barclays increased their target price on American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.08.

American Electric Power Stock Up 0.9 %

Shares of American Electric Power stock traded up $0.81 during trading on Wednesday, reaching $86.37. The company’s stock had a trading volume of 3,865,023 shares, compared to its average volume of 3,774,513. The company has a market cap of $45.48 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 3.00 and a beta of 0.51. 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 50-day simple moving average of $83.19 and a two-hundred day simple moving average of $80.25. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $94.73.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.08%. American Electric Power’s dividend payout ratio (DPR) is 82.82%.

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.