RWA Wealth Partners LLC Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

RWA Wealth Partners LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 227.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,093 shares of the company’s stock after purchasing an additional 11,184 shares during the quarter. RWA Wealth Partners LLC’s holdings in American Electric Power were worth $1,307,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Apella Capital LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth $348,000. Rockline Wealth Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth $1,982,000. Nisa Investment Advisors LLC lifted its stake in shares of American Electric Power by 28.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,065 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of American Electric Power by 1,592.1% during the 4th quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock worth $33,612,000 after purchasing an additional 389,675 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of American Electric Power by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock worth $190,432,000 after purchasing an additional 522,608 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.9 %

American Electric Power stock opened at $86.37 on Thursday. The stock has a 50-day moving average of $83.34 and a two-hundred day moving average of $80.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $94.73. The stock has a market cap of $45.48 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio is presently 82.82%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AEP. Barclays upped their price objective on American Electric Power from $83.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Cfra restated a “buy” rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. BMO Capital Markets upped their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price objective for the company. in a research note on Monday, January 22nd. Finally, LADENBURG THALM/SH SH cut American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $86.08.

About American Electric Power

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.