Fiduciary Trust Co Buys 670 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Fiduciary Trust Co raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,817 shares of the company’s stock after buying an additional 670 shares during the period. Fiduciary Trust Co’s holdings in American Electric Power were worth $3,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AEP. SouthState Corp raised its holdings in American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after buying an additional 102 shares during the period. Dark Forest Capital Management LP increased its position in American Electric Power by 2.3% during the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock valued at $418,000 after acquiring an additional 103 shares during the last quarter. PSI Advisors LLC raised its stake in shares of American Electric Power by 10.6% in the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after acquiring an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of American Electric Power by 3.7% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock worth $286,000 after acquiring an additional 112 shares during the last quarter. Finally, Albion Financial Group UT lifted its holdings in shares of American Electric Power by 0.9% in the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock worth $1,119,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.5 %

Shares of NASDAQ:AEP opened at $104.68 on Friday. 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 company has a market capitalization of $55.92 billion, a PE ratio of 18.69, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The business’s fifty day simple moving average is $105.65 and its 200-day simple moving average is $100.26.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, May 9th. American Electric Power’s payout ratio is presently 71.68%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets boosted their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Guggenheim increased their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup boosted their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $105.77.

American Electric Power 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.