Eastern Bank trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 216,476 shares of the company’s stock after selling 1,984 shares during the period. Eastern Bank’s holdings in American Electric Power were worth $19,966,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of American Electric Power in the second quarter worth approximately $1,653,000. American Century Companies Inc. increased its holdings in American Electric Power by 51.1% in the second quarter. American Century Companies Inc. now owns 257,372 shares of the company’s stock worth $22,582,000 after buying an additional 87,075 shares during the last quarter. Qsemble Capital Management LP acquired a new position in American Electric Power in the second quarter worth approximately $217,000. Oppenheimer & Co. Inc. increased its holdings in American Electric Power by 5.5% in the second quarter. Oppenheimer & Co. Inc. now owns 43,522 shares of the company’s stock worth $3,819,000 after buying an additional 2,271 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in American Electric Power by 1.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 130,313 shares of the company’s stock valued at $11,523,000 after purchasing an additional 2,142 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
American Electric Power Price Performance
Shares of American Electric Power stock traded up $0.98 during trading on Monday, reaching $94.49. The company’s stock had a trading volume of 3,842,092 shares, compared to its average volume of 3,378,057. The stock has a 50-day moving average price of $94.72 and a two-hundred day moving average price of $96.69. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The stock has a market capitalization of $50.28 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56.
American Electric Power Increases Dividend
Analyst Ratings Changes
AEP has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets reduced their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.
Get Our Latest Stock Report on AEP
About American Electric Power
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.
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