Hartford Funds Management Co LLC Boosts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Funds Management Co LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 35.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,243 shares of the company’s stock after purchasing an additional 852 shares during the period. American Electric Power makes up approximately 0.0% of Hartford Funds Management Co LLC’s portfolio, making the stock its 16th biggest holding. Hartford Funds Management Co LLC’s holdings in American Electric Power were worth $280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. EdgeRock Capital LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at about $27,000. Penserra Capital Management LLC acquired a new stake in shares of American Electric Power in the first quarter worth approximately $27,000. Mizuho Securities Co. Ltd. purchased a new position in American Electric Power in the 3rd quarter valued at $33,000. Hallmark Capital Management Inc. acquired a new stake in American Electric Power during the 2nd quarter worth $34,000. Finally, Charter Oak Capital Management LLC purchased a new stake in shares of American Electric Power during the second quarter worth $35,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

American Electric Power Stock Down 0.6 %

AEP traded down $0.60 on Wednesday, reaching $92.10. The company’s stock had a trading volume of 253,211 shares, compared to its average volume of 2,647,194. The company has a market capitalization of $47.33 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.83 and a beta of 0.42. American Electric Power Company, Inc. has a fifty-two week low of $80.30 and a fifty-two week high of $105.60. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average of $95.02 and a two-hundred day moving average of $94.13.

American Electric Power (NASDAQ:AEP – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.05. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $4.75 billion. American Electric Power had a return on equity of 10.73% and a net margin of 13.08%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.02 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 10th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.60%. American Electric Power’s payout ratio is currently 68.74%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AEP. Mizuho dropped their price objective on shares of American Electric Power from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Friday, December 16th. StockNews.com initiated coverage on American Electric Power in a report on Wednesday, October 12th. They issued a “hold” rating for the company. BMO Capital Markets lifted their price target on American Electric Power from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, December 16th. Bank of America lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $101.00 to $98.00 in a report on Monday, December 19th. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $96.00 to $108.00 in a report on Wednesday, December 14th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.82.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.