CX Institutional Trims Position in American Electric Power Company, Inc. (NASDAQ:AEP)

CX Institutional cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,561 shares of the company’s stock after selling 256 shares during the period. CX Institutional’s holdings in American Electric Power were worth $328,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AEP. Pathway Financial Advisers LLC increased its stake in shares of American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares during the period. Janus Henderson Group PLC boosted its position in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. State Street Corp boosted its position in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC boosted its position in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in shares of American Electric Power during the third quarter valued at approximately $80,207,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.7 %

AEP stock opened at $98.18 on Monday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business has a fifty day moving average price of $94.87 and a 200-day moving average price of $97.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a market capitalization of $52.24 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Finally, Morgan Stanley dropped their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.00.

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.