Hartford Funds Management Co LLC Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Hartford Funds Management Co LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,011 shares of the company’s stock after purchasing an additional 440 shares during the period. Hartford Funds Management Co LLC’s holdings in American Electric Power were worth $488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FSC Wealth Advisors LLC lifted its holdings in American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after acquiring an additional 242 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in American Electric Power during the fourth quarter worth $32,000. GoalVest Advisory LLC lifted its stake in shares of American Electric Power by 304.8% in the 4th quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. JNBA Financial Advisors lifted its stake in shares of American Electric Power by 91.6% in the 3rd quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock valued at $36,000 after purchasing an additional 229 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of American Electric Power in the 3rd quarter valued at $36,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.7 %

AEP stock traded down $0.64 during mid-day trading on Tuesday, hitting $86.03. 5,738,277 shares of the company were exchanged, compared to its average volume of 3,771,013. The firm has a market cap of $45.30 billion, a P/E ratio of 20.24, a P/E/G ratio of 3.01 and a beta of 0.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $93.56. The firm’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $80.67.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.09). The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.09%. American Electric Power’s dividend payout ratio is currently 82.82%.

Analyst Ratings Changes

AEP has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $75.50 to $73.00 in a report on Friday, March 8th. StockNews.com downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Thursday, January 11th. Guggenheim downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target for the company. in a research report on Monday, January 22nd. Finally, Scotiabank reduced their target price on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $86.08.

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.