Purkiss Capital Advisors LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Purkiss Capital Advisors LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,539 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. Nixon Peabody Trust Co. raised its holdings in American Electric Power by 7.3% in the 4th quarter. Nixon Peabody Trust Co. now owns 5,148 shares of the company’s stock valued at $475,000 after acquiring an additional 348 shares during the last quarter. Jacobi Capital Management LLC grew its position in shares of American Electric Power by 24.2% in the fourth quarter. Jacobi Capital Management LLC now owns 3,590 shares of the company’s stock valued at $331,000 after purchasing an additional 700 shares during the period. Metis Global Partners LLC increased its stake in American Electric Power by 5.1% in the fourth quarter. Metis Global Partners LLC now owns 39,837 shares of the company’s stock valued at $3,674,000 after purchasing an additional 1,945 shares during the last quarter. Fisher Asset Management LLC lifted its position in American Electric Power by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,568 shares of the company’s stock worth $421,000 after buying an additional 684 shares during the period. Finally, SVB Wealth LLC acquired a new stake in American Electric Power in the 4th quarter worth about $819,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $106.05 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $107.84. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.97 and a beta of 0.58. The business has a 50-day moving average of $97.98 and a 200-day moving average of $98.38.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays dropped 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 note on Tuesday, November 26th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley decreased their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $98.46.

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.