RWC Asset Management LLP Invests $12.14 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

RWC Asset Management LLP bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 131,601 shares of the company’s stock, valued at approximately $12,138,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of American Electric Power during the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in American Electric Power in the fourth quarter worth about $35,000. Finally, Reston Wealth Management LLC purchased a new stake in American Electric Power in the third quarter worth about $48,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 0.9 %

Shares of AEP opened at $105.33 on Monday. The firm has a market cap of $56.16 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.58. 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 $105.73. The company has a 50 day simple moving average of $96.51 and a two-hundred day simple moving average of $98.07.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 company posted $1.23 EPS. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company 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 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. 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 report on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.00.

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.