Asset Management One Co. Ltd. Decreases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Asset Management One Co. Ltd. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,777 shares of the company’s stock after selling 23,025 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of American Electric Power worth $22,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in shares of American Electric Power by 168.2% during the second quarter. Lazard Asset Management LLC now owns 271,526 shares of the company’s stock worth $26,049,000 after purchasing an additional 170,304 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of American Electric Power by 2.0% during the second quarter. Retirement Systems of Alabama now owns 170,247 shares of the company’s stock worth $16,333,000 after purchasing an additional 3,372 shares in the last quarter. TIAA FSB increased its position in shares of American Electric Power by 2.6% during the third quarter. TIAA FSB now owns 25,996 shares of the company’s stock worth $2,247,000 after purchasing an additional 647 shares in the last quarter. Hallmark Capital Management Inc. acquired a new stake in shares of American Electric Power during the second quarter worth about $34,000. Finally, Bowling Portfolio Management LLC increased its position in shares of American Electric Power by 1.8% during the third quarter. Bowling Portfolio Management LLC now owns 10,437 shares of the company’s stock worth $902,000 after purchasing an additional 182 shares in the last quarter. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AEP shares. StockNews.com started coverage on American Electric Power in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Guggenheim reduced their price objective on American Electric Power from $109.00 to $93.00 in a research note on Monday, October 24th. Morgan Stanley upped their price objective on American Electric Power from $104.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, December 15th. Mizuho reduced their price objective on American Electric Power from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Friday, December 16th. Finally, Wells Fargo & Company upped their price objective on American Electric Power from $96.00 to $108.00 in a research note on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and a consensus target price of $101.82.

American Electric Power Stock Performance

Shares of AEP opened at $92.70 on Wednesday. The company has a 50-day simple moving average of $94.95 and a 200-day simple moving average of $94.17. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $47.64 billion, a PE ratio of 19.19, a P/E/G ratio of 2.80 and a beta of 0.42. American Electric Power Company, Inc. has a 52-week low of $80.30 and a 52-week high of $105.60.

American Electric Power (NASDAQ:AEPGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $4.75 billion. American Electric Power had a net margin of 13.08% and a return on equity of 10.73%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.03 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 10th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s payout ratio is 68.74%.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.

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

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