Addison Advisors LLC Reduces Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Addison Advisors LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 34.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,622 shares of the company’s stock after selling 1,884 shares during the period. Addison Advisors LLC’s holdings in American Electric Power were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEP. Mirae Asset Global Investments Co. Ltd. grew its position in American Electric Power by 22.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,892 shares of the company’s stock worth $12,719,000 after acquiring an additional 23,296 shares in the last quarter. Forsta AP Fonden grew its position in American Electric Power by 23.2% in the third quarter. Forsta AP Fonden now owns 108,500 shares of the company’s stock worth $11,132,000 after acquiring an additional 20,400 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in American Electric Power by 54.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 304,287 shares of the company’s stock worth $31,220,000 after acquiring an additional 107,092 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in American Electric Power by 1.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 131,773 shares of the company’s stock worth $13,528,000 after acquiring an additional 1,460 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in American Electric Power by 6.4% in the third quarter. J.W. Cole Advisors Inc. now owns 17,929 shares of the company’s stock worth $1,840,000 after acquiring an additional 1,079 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $106.29 on Tuesday. The company has a market capitalization of $56.67 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $107.36. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a 50 day moving average of $96.80 and a 200 day moving average of $98.13.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the business earned $1.23 earnings per share. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

Analyst Ratings Changes

AEP has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Evercore ISI decreased their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, Barclays decreased their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $98.00.

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.