Choate Investment Advisors Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Choate Investment Advisors acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,545 shares of the company’s stock, valued at approximately $419,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC lifted its stake in shares of American Electric Power by 6.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 8,283 shares of the company’s stock worth $764,000 after purchasing an additional 498 shares during the last quarter. HMV Wealth Advisors LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth $860,000. First National Trust Co lifted its stake in shares of American Electric Power by 2.7% during the 4th quarter. First National Trust Co now owns 89,559 shares of the company’s stock worth $8,260,000 after purchasing an additional 2,375 shares during the last quarter. Carret Asset Management LLC increased its position in American Electric Power by 2.0% during the 4th quarter. Carret Asset Management LLC now owns 63,897 shares of the company’s stock valued at $5,893,000 after buying an additional 1,275 shares in the last quarter. Finally, Midwest Professional Planners LTD. increased its position in American Electric Power by 9.4% during the 4th quarter. Midwest Professional Planners LTD. now owns 6,126 shares of the company’s stock valued at $565,000 after buying an additional 525 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.3 %

Shares of AEP stock opened at $105.86 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $109.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a market capitalization of $56.45 billion, a PE ratio of 18.90, a P/E/G ratio of 2.97 and a beta of 0.50. The stock’s 50-day simple moving average is $100.80 and its 200-day simple moving average is $98.91.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 EPS 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 period in the prior year, the business earned $1.23 EPS. Equities 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. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.51%. American Electric Power’s payout ratio is 66.43%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AEP shares. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the company from $98.00 to $104.00 in a research report on Monday, January 13th. BMO Capital Markets reduced their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power 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.