Envestnet Asset Management Inc. Buys 73,545 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Asset Management Inc. increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,176,835 shares of the company’s stock after purchasing an additional 73,545 shares during the quarter. Envestnet Asset Management Inc. owned 0.60% of American Electric Power worth $292,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth about $25,000. Fairway Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in American Electric Power in the 4th quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in American Electric Power in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ AEP opened at $104.48 on Friday. The company has a market cap of $55.76 billion, a PE ratio of 18.66, a P/E/G ratio of 2.97 and a beta of 0.43. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $110.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm’s 50 day moving average price is $103.79 and its 200-day moving average price is $99.26.

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 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 period in the prior year, the firm posted $1.23 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared 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 dividend yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

Analyst Ratings Changes

A number of research analysts have recently commented on AEP shares. Bank of America upped their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley boosted their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets raised their price target on shares of American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. One 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’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average price target of $100.77.

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.