American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,283 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in American Electric Power were worth $764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC raised its position in American Electric Power by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after purchasing an additional 3,288 shares during the last quarter. Secure Asset Management LLC raised its position in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust raised its position in American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc purchased a new stake in American Electric Power in the 4th quarter valued at $419,000. Finally, Principal Financial Group Inc. raised its position in American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several research reports. Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, BMO Capital Markets cut their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.46.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.56 on Friday. 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 has a 50-day moving average price of $100.49 and a two-hundred day moving average price of $98.87. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. The company has a market capitalization of $56.29 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its earnings results 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 net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the company posted $1.23 earnings per share. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.52%. 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.