Federated Hermes Inc. Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Federated Hermes Inc. lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,707,166 shares of the company’s stock after acquiring an additional 26,725 shares during the period. American Electric Power accounts for about 0.7% of Federated Hermes Inc.’s investment portfolio, making the stock its 20th biggest holding. Federated Hermes Inc.’s holdings in American Electric Power were worth $341,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEP. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the 3rd quarter valued at about $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in American Electric Power during the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power in the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in American Electric Power in the fourth quarter worth approximately $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of AEP stock opened at $104.48 on Friday. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $110.48. The stock has a fifty day simple moving average of $103.79 and a two-hundred day simple moving average of $99.26. The stock has a market capitalization of $55.76 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.97 and a beta of 0.43. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its 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 quarter last year, the company earned $1.23 earnings per share. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.56%. American Electric Power’s payout ratio is 66.43%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEP. Morgan Stanley lifted their price objective on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Bank of America lifted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.77.

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.