Intech Investment Management LLC Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Intech Investment Management LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,811 shares of the company’s stock after selling 13,842 shares during the period. Intech Investment Management LLC’s holdings in American Electric Power were worth $3,118,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC acquired a new stake in American Electric Power during the 3rd quarter worth $33,000. Fairway Wealth LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AEP shares. 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. Morgan Stanley dropped their price target 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. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Barclays dropped their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $99.23.

American Electric Power Stock Down 0.1 %

Shares of AEP opened at $105.84 on Thursday. The firm has a market cap of $56.44 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $109.52. The company’s 50-day moving average price is $101.38 and its 200 day moving average price is $99.00. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 last year, the company posted $1.23 EPS. On average, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.51%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

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.