Van ECK Associates Corp Trims Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Van ECK Associates Corp reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,557 shares of the company’s stock after selling 16,725 shares during the period. Van ECK Associates Corp’s holdings in American Electric Power were worth $9,068,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AEP. Lazard Asset Management LLC raised its stake in American Electric Power by 2,331.2% in the second quarter. Lazard Asset Management LLC now owns 3,650,830 shares of the company’s stock worth $307,398,000 after buying an additional 3,500,662 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in American Electric Power by 99,268.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,804,171 shares of the company’s stock worth $266,256,000 after buying an additional 2,801,349 shares in the last quarter. Morgan Stanley raised its stake in American Electric Power by 23.7% in the fourth quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock worth $1,268,278,000 after buying an additional 2,560,192 shares in the last quarter. Royal Bank of Canada raised its stake in American Electric Power by 41.7% in the second quarter. Royal Bank of Canada now owns 7,340,523 shares of the company’s stock worth $618,073,000 after buying an additional 2,161,083 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in American Electric Power by 26,257.9% in the first quarter. Jane Street Group LLC now owns 1,900,930 shares of the company’s stock worth $172,966,000 after buying an additional 1,893,718 shares in the last quarter. 74.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research reports. BMO Capital Markets decreased their price target on shares of American Electric Power from $94.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Morgan Stanley increased their price target on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 21st. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Sunday, November 12th. Mizuho downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Thursday, January 11th. Finally, Barclays raised their target price on shares of American Electric Power from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.73.

View Our Latest Report on AEP

American Electric Power Price Performance

Shares of AEP opened at $76.66 on Friday. The company has a market capitalization of $40.31 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.73 and a beta of 0.49. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $80.21 and a 200 day moving average of $78.85. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $96.05.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 9th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, February 8th. American Electric Power’s dividend payout ratio is currently 80.73%.

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

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