Alhambra Investment Management LLC Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Alhambra Investment Management LLC grew its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,411 shares of the company’s stock after buying an additional 200 shares during the quarter. Alhambra Investment Management LLC’s holdings in American Electric Power were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in American Electric Power by 3.1% in the third 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 during the last quarter. New England Asset Management Inc. bought a new stake in shares of American Electric Power in the 3rd quarter valued at approximately $3,404,000. ING Groep NV raised its position in shares of American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after acquiring an additional 208,974 shares in the last quarter. Czech National Bank lifted its stake in American Electric Power by 6.5% during the fourth quarter. Czech National Bank now owns 115,471 shares of the company’s stock worth $10,650,000 after purchasing an additional 7,073 shares during the last quarter. Finally, Pines Wealth Management LLC bought a new position in American Electric Power during the fourth quarter worth $303,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.4 %

American Electric Power stock opened at $97.25 on Friday. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock has a market capitalization of $51.75 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. The firm has a 50 day simple moving average of $94.52 and a 200-day simple moving average of $96.84. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AEP shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. 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 report on Thursday, November 7th. Barclays lowered their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Finally, UBS Group upped their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

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.