Nordea Investment Management AB lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 661,398 shares of the company's stock after selling 88,621 shares during the period. Nordea Investment Management AB owned about 0.12% of American Electric Power worth $60,895,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AEP. Private Advisor Group LLC raised its stake in shares of American Electric Power by 3.6% in the 2nd quarter. Private Advisor Group LLC now owns 58,311 shares of the company's stock valued at $5,116,000 after purchasing an additional 2,011 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in American Electric Power by 70.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,983 shares of the company's stock worth $613,000 after buying an additional 2,882 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of American Electric Power in the 2nd quarter worth approximately $1,653,000. Caprock Group LLC increased its holdings in shares of American Electric Power by 111.5% in the 2nd quarter. Caprock Group LLC now owns 6,678 shares of the company's stock valued at $586,000 after acquiring an additional 3,521 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of American Electric Power during the 2nd quarter valued at approximately $110,000. Institutional investors and hedge funds own 75.24% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on AEP shares. Barclays decreased their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a research note on Thursday, November 7th. Morgan Stanley decreased their target price on American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank cut American Electric Power from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $97.13.
View Our Latest Stock Report on American Electric Power
American Electric Power Price Performance
AEP traded up $1.79 on Wednesday, reaching $92.26. The company had a trading volume of 2,591,493 shares, compared to its average volume of 2,440,236. The company has a market capitalization of $49.09 billion, a P/E ratio of 18.49, a PEG ratio of 2.70 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a fifty day moving average of $95.02 and a 200-day moving average of $96.58. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.
American Electric Power Company Profile
(
Free Report)
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.
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