Summit Trail Advisors LLC Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Summit Trail Advisors LLC decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 44.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,027 shares of the company’s stock after selling 2,441 shares during the period. Summit Trail Advisors LLC’s holdings in American Electric Power were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares during the last quarter. Morgan Stanley increased its stake in shares of American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after buying an additional 587,145 shares during the last quarter. Invesco Ltd. increased its stake in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after buying an additional 1,181,706 shares during the last quarter. Royal Bank of Canada increased its stake in shares of American Electric Power by 5.1% in the third quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock worth $580,308,000 after buying an additional 374,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of American Electric Power by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,428,035 shares of the company’s stock worth $333,077,000 after buying an additional 98,897 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.8 %

NASDAQ:AEP opened at $90.58 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $92.10. The stock’s 50-day moving average is $84.37 and its two-hundred day moving average is $81.16. The stock has a market cap of $47.75 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.50.

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

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.89%. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research reports. Scotiabank lifted their price objective on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 1st. Barclays boosted their price target on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets boosted their price target on shares of American Electric Power from $93.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Mizuho downgraded 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 report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.14.

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.