Pictet Asset Management Holding SA Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Pictet Asset Management Holding SA lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 194,932 shares of the company’s stock after selling 5,029 shares during the period. Pictet Asset Management Holding SA’s holdings in American Electric Power were worth $17,979,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power in the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in American Electric Power during the fourth quarter worth $32,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the third quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ:AEP opened at $108.37 on Wednesday. The company’s 50-day moving average is $103.23 and its two-hundred day moving average is $99.17. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.76. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm has a market capitalization of $57.84 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS 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 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.43%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley lifted their price target on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America raised their price objective on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, BMO Capital Markets increased their target price on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $100.77.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.