Diametric Capital LP Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Diametric Capital LP bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,259 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SouthState Corp lifted its holdings in American Electric Power by 1.6% in the fourth 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. PSI Advisors LLC grew its holdings in 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 purchasing an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of American Electric Power by 3.7% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock worth $286,000 after buying an additional 112 shares during the period. Albion Financial Group UT grew its stake in American Electric Power by 0.9% in the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock valued at $1,119,000 after acquiring an additional 112 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in American Electric Power by 11.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company’s stock worth $103,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Bank of America increased their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Morgan Stanley increased their price objective on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research 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.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $100.77.

American Electric Power Stock Performance

American Electric Power stock opened at $107.75 on Thursday. The company has a market cap of $57.51 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $109.76. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The stock’s 50-day moving average is $103.44 and its 200-day moving average is $99.23.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS 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 period last year, the firm earned $1.23 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 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.