Rodgers Brothers Inc. Acquires 27,614 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Rodgers Brothers Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 682.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,662 shares of the company’s stock after purchasing an additional 27,614 shares during the quarter. Rodgers Brothers Inc.’s holdings in American Electric Power were worth $2,920,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AEP. Legacy Investment Solutions LLC bought a new position in American Electric Power in the third quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power in the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter worth $32,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the 3rd quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in American Electric Power during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AEP. BMO Capital Markets increased their price target on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.77.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $106.96 on Monday. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market cap of $57.08 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.97 and a beta of 0.50. The business’s 50 day moving average price is $102.78 and its 200 day moving average price is $99.10.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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 net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the company earned $1.23 EPS. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

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.