Resona Asset Management Co. Ltd. Acquires New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Resona Asset Management Co. Ltd. bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 164,965 shares of the company’s stock, valued at approximately $15,221,000.

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

American Electric Power Trading Down 4.2 %

AEP opened at $104.48 on Friday. The stock has a market cap of $55.76 billion, a PE ratio of 18.66, a PEG ratio of 2.97 and a beta of 0.43. The business has a 50 day moving average of $103.79 and a 200-day moving average of $99.26. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $110.48. 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 (NASDAQ:AEP) last announced its earnings results on Thursday, February 13th. The company reported $1.24 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 quarter in the previous year, the firm posted $1.23 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on AEP. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley raised their price target on shares of American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their target price on shares of American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a report on Wednesday, March 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.