American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,946 shares of the company’s stock after selling 516 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in American Electric Power were worth $808,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in American Electric Power during the 1st quarter valued at $27,000. True Wealth Design LLC acquired a new stake in American Electric Power during the 4th quarter valued at $28,000. Fairfield Bush & CO. acquired a new stake in American Electric Power during the 2nd quarter valued at $26,000. Chilton Capital Management LLC acquired a new stake in American Electric Power during the 1st quarter valued at $28,000. Finally, FSC Wealth Advisors LLC increased its stake in shares of American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after acquiring an additional 242 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Guggenheim downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a research report on Monday, January 22nd. Barclays increased their target price on shares of American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday. BMO Capital Markets raised their price target on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Cfra restated a “buy” rating and set a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Finally, Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.15.

American Electric Power Trading Down 1.4 %

Shares of NASDAQ AEP opened at $80.91 on Tuesday. The company’s fifty day moving average is $82.50 and its 200-day moving average is $79.81. The stock has a market cap of $42.61 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.90 and a beta of 0.51. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $94.73. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. Equities research analysts predict that American Electric Power Company, Inc. will post 5.54 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 9th were given a $0.88 dividend. The ex-dividend date was Thursday, February 8th. This represents a $3.52 annualized dividend and a yield of 4.35%. American Electric Power’s dividend payout ratio is currently 82.82%.

American Electric Power Company 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.