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

New York Life Investment Management LLC increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,568 shares of the company’s stock after buying an additional 613 shares during the period. New York Life Investment Management LLC’s holdings in American Electric Power were worth $6,601,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth about $33,000. Kestra Investment Management LLC purchased a new position in American Electric Power during the 4th quarter valued at about $35,000. Newbridge Financial Services Group Inc. purchased a new position in American Electric Power during the 4th quarter valued at about $35,000. Finally, Reston Wealth Management LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.8 %

AEP stock opened at $106.05 on Friday. The firm has a 50 day moving average of $97.98 and a 200 day moving average of $98.37. The stock has a market capitalization of $56.55 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $107.84.

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 net margin of 15.08% and a return on equity of 11.27%. During the same period in the previous year, the firm posted $1.23 earnings per share. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research reports. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the company from $98.00 to $104.00 in a research report on Monday, January 13th. UBS Group raised their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley cut their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, BMO Capital Markets cut their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.46.

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.