Edgemoor Investment Advisors Inc. Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Edgemoor Investment Advisors Inc. lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 128,873 shares of the company’s stock after purchasing an additional 2,266 shares during the quarter. American Electric Power comprises about 1.0% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 24th largest holding. Edgemoor Investment Advisors Inc.’s holdings in American Electric Power were worth $11,886,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of American Electric Power by 3.6% during the fourth quarter. Signaturefd LLC now owns 9,854 shares of the company’s stock worth $909,000 after buying an additional 338 shares during the period. Cibc World Markets Corp increased its position in American Electric Power by 3.4% in the 4th quarter. Cibc World Markets Corp now owns 370,801 shares of the company’s stock valued at $34,199,000 after acquiring an additional 12,173 shares during the period. SouthState Corp increased its position in American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after acquiring an additional 102 shares during the period. GWN Securities Inc. purchased a new stake in American Electric Power in the 4th quarter valued at approximately $976,000. Finally, Glenview Trust co boosted its stake in shares of American Electric Power by 148.5% during the 4th quarter. Glenview Trust co now owns 12,566 shares of the company’s stock worth $1,159,000 after acquiring an additional 7,509 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley reduced their price target 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, Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $105.00 to $102.00 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 five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.46.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $105.56 on Monday. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a 50-day simple moving average of $100.49 and a two-hundred day simple moving average of $98.87. The stock has a market capitalization of $56.29 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the firm posted $1.23 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.52%. American Electric Power’s payout ratio is 66.43%.

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.