American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Summit Global Investments

Summit Global Investments lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 84.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,877 shares of the company’s stock after selling 21,225 shares during the quarter. Summit Global Investments’ holdings in American Electric Power were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AEP. Apella Capital LLC purchased a new position in American Electric Power during the 4th quarter worth $348,000. Rockline Wealth Management LLC acquired a new stake in American Electric Power in the fourth quarter valued at about $1,982,000. Nisa Investment Advisors LLC boosted its holdings in American Electric Power by 28.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock valued at $4,096,000 after purchasing an additional 11,065 shares in the last quarter. Nordea Investment Management AB increased its position in American Electric Power by 1,592.1% during the 4th quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock worth $33,612,000 after purchasing an additional 389,675 shares during the period. Finally, JPMorgan Chase & Co. increased its position in American Electric Power by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock worth $190,432,000 after purchasing an additional 522,608 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays lifted their price target on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Monday, January 22nd. BMO Capital Markets raised their price objective on shares of American Electric Power from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. LADENBURG THALM/SH SH lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $75.50 to $73.00 in a research report on Friday, March 8th. Finally, Wells Fargo & Company increased their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $88.14.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $88.60 on Monday. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $92.88. The stock has a market cap of $46.70 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.50. The business’s fifty day moving average price is $84.10 and its two-hundred day moving average price is $80.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.36 and a current ratio of 0.54.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. On average, analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

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.