Norinchukin Bank The cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 46,485 shares of the company’s stock after selling 2,508 shares during the period. Norinchukin Bank The’s holdings in American Electric Power were worth $4,136,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its holdings in American Electric Power by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 39,015 shares of the company’s stock valued at $3,471,000 after purchasing an additional 1,930 shares during the period. Pinebridge Investments L.P. bought a new position in American Electric Power during the fourth quarter valued at $53,000. Industrial Alliance Investment Management Inc. bought a new position in American Electric Power during the fourth quarter valued at $26,000. Capital Analysts LLC grew its holdings in American Electric Power by 9.3% during the fourth quarter. Capital Analysts LLC now owns 58,294 shares of the company’s stock valued at $5,187,000 after purchasing an additional 4,954 shares during the period. Finally, Tdam USA Inc. boosted its holdings in shares of American Electric Power by 104.4% in the fourth quarter. Tdam USA Inc. now owns 104,386 shares of the company’s stock worth $9,287,000 after acquiring an additional 53,322 shares during the period. 73.26% of the stock is owned by institutional investors.
Shares of NASDAQ:AEP opened at $99.69 on Friday. The stock’s 50-day moving average price is $99.29 and its 200-day moving average price is $91.42. American Electric Power Company, Inc. has a 12-month low of $80.22 and a 12-month high of $104.81. The stock has a market capitalization of $51.19 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 3.41 and a beta of 0.34. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.28.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, May 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.13%. American Electric Power’s dividend payout ratio (DPR) is currently 59.66%.
A number of equities analysts have recently commented on AEP shares. Credit Suisse Group started coverage on American Electric Power in a report on Monday, April 25th. They issued an “outperform” rating and a $113.00 price target for the company. Wells Fargo & Company upgraded American Electric Power from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $93.00 to $101.00 in a research report on Monday, February 28th. Morgan Stanley raised their price target on American Electric Power from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Royal Bank of Canada raised their price target on American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Finally, Seaport Res Ptn downgraded American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $104.70.
In related news, EVP Paul Chodak III sold 6,361 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $95.54, for a total value of $607,729.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Julia A. Sloat sold 1,803 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $100.15, for a total value of $180,570.45. Following the completion of the sale, the chief financial officer now directly owns 34,871 shares in the company, valued at $3,492,330.65. The disclosure for this sale can be found here. Insiders have sold 44,526 shares of company stock worth $4,257,794 over the last ninety days. Insiders own 0.12% of the company’s stock.
American Electric Power Company Profile (Get Rating)
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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