Cubist Systematic Strategies LLC lessened its stake in American Electric Power Company Inc (NYSE:AEP) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 44,440 shares of the utilities provider’s stock after selling 8,436 shares during the period. Cubist Systematic Strategies LLC’s holdings in American Electric Power were worth $4,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AEP. Fusion Family Wealth LLC bought a new position in American Electric Power in the 4th quarter worth approximately $34,000. Prestige Wealth Management Group LLC raised its position in American Electric Power by 195.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 410 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 271 shares during the last quarter. Asset Dedication LLC raised its position in American Electric Power by 554.1% in the 4th quarter. Asset Dedication LLC now owns 399 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 338 shares during the last quarter. Coastal Investment Advisors Inc. raised its position in American Electric Power by 30.1% in the 4th quarter. Coastal Investment Advisors Inc. now owns 501 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 116 shares during the last quarter. Finally, Manchester Financial Inc. acquired a new stake in American Electric Power during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 73.78% of the company’s stock.

A number of analysts have commented on the stock. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating in a report on Friday, January 3rd. Wells Fargo & Co reaffirmed an “outperform” rating on shares of American Electric Power in a report on Monday, February 24th. Guggenheim lowered shares of American Electric Power from a “neutral” rating to a “sell” rating in a report on Tuesday, January 7th. They noted that the move was a valuation call. KeyCorp raised shares of American Electric Power from a “sector weight” rating to an “overweight” rating and set a $93.00 target price for the company in a report on Friday, March 13th. Finally, Citigroup lifted their target price on shares of American Electric Power from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $101.73.

In other news, CEO Nicholas K. Akins sold 69,657 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $101.05, for a total value of $7,038,839.85. Following the completion of the transaction, the chief executive officer now owns 170,522 shares of the company’s stock, valued at approximately $17,231,248.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian X. Tierney sold 18,573 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $101.55, for a total transaction of $1,886,088.15. Following the completion of the transaction, the chief financial officer now directly owns 45,162 shares of the company’s stock, valued at approximately $4,586,201.10. The disclosure for this sale can be found here. Insiders sold a total of 108,304 shares of company stock valued at $10,899,717 in the last three months. 0.16% of the stock is owned by company insiders.

Shares of AEP stock opened at $73.29 on Thursday. American Electric Power Company Inc has a 12-month low of $65.14 and a 12-month high of $104.97. The firm has a market capitalization of $35.65 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.80 and a beta of 0.31. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average of $94.19 and a 200-day moving average of $93.89.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. American Electric Power had a net margin of 12.34% and a return on equity of 10.67%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. Research analysts expect that American Electric Power Company Inc will post 4.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Friday, February 7th. American Electric Power’s dividend payout ratio (DPR) is 66.04%.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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