Avantax Advisory Services Inc. Increases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Avantax Advisory Services Inc. boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,183 shares of the company’s stock after purchasing an additional 3,075 shares during the quarter. Avantax Advisory Services Inc.’s holdings in American Electric Power were worth $5,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the third quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in American Electric Power in the fourth quarter worth about $32,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the third quarter worth about $33,000. Newbridge Financial Services Group Inc. purchased a new stake in American Electric Power in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in American Electric Power in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 1.3 %

Shares of American Electric Power stock opened at $105.56 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company’s 50 day moving average is $100.49 and its 200 day moving average is $98.86.

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 the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the firm earned $1.23 EPS. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.52%. American Electric Power’s payout ratio is presently 66.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AEP shares. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.46.

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.