InterOcean Capital Group LLC Cuts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

InterOcean Capital Group LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,783 shares of the company’s stock after selling 335 shares during the quarter. InterOcean Capital Group LLC’s holdings in American Electric Power were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AEP. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Invesco Ltd. boosted its stake in 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 in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in American Electric Power by 70.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock worth $145,835,000 after buying an additional 809,067 shares in the last quarter. Lazard Asset Management LLC boosted its stake in American Electric Power by 18.1% in the third quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock worth $324,304,000 after buying an additional 660,599 shares in the last quarter. Finally, Morgan Stanley boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their target price on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. UBS Group downgraded American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Finally, LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $75.50 to $73.00 in a report on Friday, March 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average target price of $88.43.

American Electric Power Trading Down 0.1 %

AEP traded down $0.08 during trading hours on Friday, reaching $89.20. 410,005 shares of the company’s stock traded hands, compared to its average volume of 3,551,402. The firm has a 50-day moving average price of $86.22 and a 200 day moving average price of $82.38. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $93.44. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $47.02 billion, a PE ratio of 16.56, a PEG ratio of 2.71 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. American Electric Power’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is 65.31%.

American Electric Power 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.