American Electric Power Company Inc (NYSE:AEP) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its holdings in American Electric Power Company Inc (NYSE:AEP) by 100.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,453 shares of the utilities provider’s stock after buying an additional 17,243 shares during the period. Cullen Frost Bankers Inc.’s holdings in American Electric Power were worth $3,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. Beese Fulmer Investment Management Inc. increased its position in American Electric Power by 0.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 18,661 shares of the utilities provider’s stock worth $1,764,000 after purchasing an additional 100 shares during the last quarter. Mission Wealth Management LP increased its position in American Electric Power by 2.1% during the fourth quarter. Mission Wealth Management LP now owns 5,127 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 106 shares during the last quarter. Wedbush Securities Inc. increased its position in American Electric Power by 1.0% during the third quarter. Wedbush Securities Inc. now owns 10,989 shares of the utilities provider’s stock worth $1,030,000 after purchasing an additional 111 shares during the last quarter. Cedar Brook Financial Partners LLC increased its position in American Electric Power by 4.5% during the third quarter. Cedar Brook Financial Partners LLC now owns 2,632 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 113 shares during the last quarter. Finally, DeDora Capital Inc. increased its position in American Electric Power by 1.3% during the third quarter. DeDora Capital Inc. now owns 9,048 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of American Electric Power from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $93.00 to $102.00 in a research report on Friday, December 20th. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Royal Bank of Canada upgraded shares of American Electric Power from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $96.00 to $103.00 in a research report on Wednesday, January 15th. SunTrust Banks set a $102.00 price objective on shares of American Electric Power and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research cut shares of American Electric Power from a “hold” rating to a “sell” rating and set a $101.00 price objective for the company. in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $98.85.

Shares of AEP opened at $103.76 on Friday. American Electric Power Company Inc has a 1-year low of $79.02 and a 1-year high of $104.97. The stock has a market cap of $51.25 billion, a PE ratio of 24.02, a P/E/G ratio of 4.14 and a beta of 0.08. The firm has a 50-day simple moving average of $98.46 and a two-hundred day simple moving average of $93.45. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.48 and a quick ratio of 0.36.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, February 7th. American Electric Power’s dividend payout ratio is presently 70.89%.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Featured Story: Bond

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.