Hoey Investments Inc. Buys Shares of 1,210 American Electric Power Company, Inc. (NASDAQ:AEP)

Hoey Investments Inc. purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,210 shares of the company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the 3rd quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $32,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power in the 3rd quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Morgan Stanley increased their target price on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Bank of America lifted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average target price of $100.77.

American Electric Power Trading Up 1.7 %

Shares of AEP opened at $106.96 on Monday. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.52. 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 firm’s 50-day moving average price is $102.78 and its 200-day moving average price is $99.10. The firm has a market capitalization of $57.08 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate 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 previous year, the business posted $1.23 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

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.