Titleist Asset Management LLC Acquires New Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Titleist Asset Management LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,082 shares of the company’s stock, valued at approximately $644,000.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of American Electric Power by 5.1% in the first quarter. Wellington Management Group LLP now owns 24,171,020 shares of the company’s stock valued at $2,199,321,000 after buying an additional 1,176,207 shares during the period. Morgan Stanley boosted its position in shares of American Electric Power by 23.7% during the 4th quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock valued at $1,268,278,000 after purchasing an additional 2,560,192 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Electric Power by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 10,209,355 shares of the company’s stock worth $967,570,000 after purchasing an additional 73,877 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of American Electric Power by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 6,364,084 shares of the company’s stock worth $604,270,000 after purchasing an additional 166,517 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in American Electric Power by 3.8% during the fourth quarter. Wells Fargo & Company MN now owns 4,804,670 shares of the company’s stock valued at $456,203,000 after purchasing an additional 176,310 shares during the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.

American Electric Power Stock Up 1.9 %

American Electric Power stock opened at $79.33 on Thursday. The firm’s 50 day moving average price is $81.96 and its two-hundred day moving average price is $86.06. The firm has a market cap of $40.87 billion, a PE ratio of 20.55, a P/E/G ratio of 2.62 and a beta of 0.46. American Electric Power Company, Inc. has a twelve month low of $75.47 and a twelve month high of $103.90. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.48 and a current ratio of 0.61.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). American Electric Power had a return on equity of 10.44% and a net margin of 10.20%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. American Electric Power’s revenue was down 5.8% on a year-over-year basis. On average, research analysts predict that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a $0.83 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $3.32 dividend on an annualized basis and a yield of 4.19%. American Electric Power’s dividend payout ratio is currently 86.01%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AEP. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a research report on Wednesday. BMO Capital Markets cut their target price on American Electric Power from $103.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. The Goldman Sachs Group initiated coverage on American Electric Power in a research report on Wednesday, June 7th. They issued a “buy” rating and a $98.00 price target for the company. Barclays began coverage on American Electric Power in a report on Wednesday, August 23rd. They set an “overweight” rating and a $88.00 price objective on the stock. Finally, UBS Group cut shares of American Electric Power from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $92.00 in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.97.

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.