Avestar Capital LLC Increases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Avestar Capital LLC grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,832 shares of the company’s stock after acquiring an additional 154 shares during the quarter. Avestar Capital LLC’s holdings in American Electric Power were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the 3rd quarter worth $33,000. Newbridge Financial Services Group Inc. acquired a new stake in American Electric Power during the 4th quarter worth about $35,000. Reston Wealth Management LLC acquired a new stake in American Electric Power during the 3rd quarter worth about $48,000. Finally, Friedenthal Financial acquired a new stake in American Electric Power during the 3rd quarter worth about $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $101.83 on Friday. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a twelve month low of $79.01 and a twelve month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average of $95.45 and a 200 day moving average of $97.92.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.41% and a net margin of 13.48%. During the same period in the previous year, the business posted $1.23 earnings per share. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.65%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AEP shares. Evercore ISI lowered their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.00.

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.