First Horizon Advisors Inc. Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

First Horizon Advisors Inc. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,340 shares of the company’s stock after purchasing an additional 4,965 shares during the quarter. First Horizon Advisors Inc.’s holdings in American Electric Power were worth $16,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. DAVENPORT & Co LLC lifted its holdings in American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after acquiring an additional 3,288 shares during the period. Secure Asset Management LLC increased its position in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after buying an additional 4,370 shares in the last quarter. Grove Bank & Trust raised its stake in shares of American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after buying an additional 5,771 shares during the period. J2 Capital Management Inc purchased a new position in American Electric Power during the fourth quarter valued at approximately $419,000. Finally, Principal Financial Group Inc. lifted its stake in shares of American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after buying an additional 19,081 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.9 %

AEP opened at $105.33 on Friday. The firm has a market cap of $56.16 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.58. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The stock has a fifty day moving average price of $96.51 and a 200-day moving average price of $98.08. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $105.73.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (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 prior year, the firm earned $1.23 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.53%. American Electric Power’s payout ratio is currently 66.43%.

Analysts Set New Price Targets

AEP has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a 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. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.