Magellan Asset Management Ltd Trims Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Magellan Asset Management Ltd trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,513 shares of the company's stock after selling 38,776 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.06% of American Electric Power worth $28,085,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AEP. Vanguard Group Inc. increased its position in shares of American Electric Power by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock valued at $4,767,425,000 after buying an additional 763,813 shares in the last quarter. State Street Corp raised its position in American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. GQG Partners LLC lifted its holdings in American Electric Power by 3.7% during the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after purchasing an additional 543,054 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Electric Power by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after purchasing an additional 283,311 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of American Electric Power by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company's stock worth $427,009,000 after purchasing an additional 100,578 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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American Electric Power Trading Down 4.2 %

Shares of American Electric Power stock traded down $4.63 on Friday, reaching $104.48. The company had a trading volume of 7,367,841 shares, compared to its average volume of 3,107,684. 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 debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm's 50 day moving average price is $103.79 and its two-hundred day moving average price is $99.26. The firm 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.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting 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 previous year, the firm earned $1.23 earnings per share. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have commented on AEP shares. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. restated a "neutral" rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Bank of America increased their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and a consensus price target of $100.77.

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.