American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by First Financial Bankshares Inc

First Financial Bankshares Inc grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,583 shares of the company’s stock after buying an additional 8,381 shares during the quarter. American Electric Power accounts for 1.2% of First Financial Bankshares Inc’s holdings, making the stock its 27th largest holding. First Financial Bankshares Inc owned approximately 0.12% of American Electric Power worth $56,683,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AEP. Raymond James Financial Inc. purchased a new position in American Electric Power in the fourth quarter valued at $220,983,000. Janus Henderson Group PLC boosted its holdings in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares during the period. State Street Corp lifted its holdings in American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. FMR LLC lifted its holdings in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in American Electric Power during the 3rd quarter worth about $80,207,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of AEP stock opened at $105.99 on Wednesday. The stock has a market capitalization of $56.52 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. The stock’s 50-day moving average price is $101.11 and its 200 day moving average price is $98.95. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last issued 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 return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm posted $1.23 EPS. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced 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 3.51%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AEP. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Morgan Stanley decreased their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Barclays reduced 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. 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. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average price target of $99.23.

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.