1832 Asset Management L.P. Invests $79.85 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

1832 Asset Management L.P. bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 811,501 shares of the company’s stock, valued at approximately $79,851,000.

A number of other large investors have also modified their holdings of AEP. American Research & Management Co. boosted its holdings in shares of American Electric Power by 100.0% during the first quarter. American Research & Management Co. now owns 250 shares of the company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in shares of American Electric Power by 1,288.9% during the first quarter. Center for Financial Planning Inc. now owns 250 shares of the company’s stock worth $25,000 after purchasing an additional 232 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of American Electric Power during the first quarter worth about $27,000. US Asset Management LLC purchased a new stake in shares of American Electric Power during the first quarter worth about $28,000. Finally, Elequin Capital LP purchased a new stake in shares of American Electric Power during the first quarter worth about $30,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of AEP stock opened at $105.18 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average of $99.42 and a two-hundred day moving average of $98.67. American Electric Power Company, Inc. has a 52 week low of $80.22 and a 52 week high of $105.60. The company has a market cap of $54.03 billion, a P/E ratio of 20.66, a PEG ratio of 3.38 and a beta of 0.34.

American Electric Power (NASDAQ:AEPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $3.98 billion. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.78 per share. The ex-dividend date was Tuesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 2.97%. American Electric Power’s dividend payout ratio is presently 61.30%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on American Electric Power from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. Credit Suisse Group lifted their target price on American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Evercore ISI lifted their target price on American Electric Power to $107.00 in a research report on Monday, August 15th. Finally, Citigroup boosted their price objective on American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.71.

American Electric Power Profile

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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.

See Also

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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