Everett Harris & Co. CA Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Everett Harris & Co. CA trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 26.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711 shares of the company’s stock after selling 1,000 shares during the period. Everett Harris & Co. CA’s holdings in American Electric Power were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in American Electric Power by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after acquiring an additional 405,114 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after buying an additional 35,769 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after buying an additional 1,927,234 shares during the period. Finally, Nordea Investment Management AB increased its position in American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after acquiring an additional 1,581,734 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AEP. Guggenheim raised their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company upped their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets upped their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Performance

Shares of AEP opened at $100.69 on Friday. The stock has a 50-day moving average of $100.43 and a two-hundred day moving average of $93.34. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market cap of $53.08 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a one year low of $72.01 and a one year high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, August 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.