Naviter Wealth LLC Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Naviter Wealth LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,430 shares of the company’s stock after selling 2,224 shares during the quarter. Naviter Wealth LLC’s holdings in American Electric Power were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after purchasing an additional 3,589,451 shares in the last quarter. Invesco Ltd. raised its holdings in American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after acquiring an additional 1,181,706 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in American Electric Power by 70.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock worth $145,835,000 after acquiring an additional 809,067 shares during the last quarter. Lazard Asset Management LLC grew its holdings in American Electric Power by 18.1% during the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock worth $324,304,000 after acquiring an additional 660,599 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $86.91 on Tuesday. The business has a 50 day simple moving average of $83.63 and a 200-day simple moving average of $80.59. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.56. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a market capitalization of $45.77 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.09). The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s payout ratio is 82.82%.

Analysts Set New Price Targets

A number of brokerages recently commented on AEP. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. BMO Capital Markets increased their price objective on American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. Mizuho downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Thursday, January 11th. Finally, StockNews.com downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.08.

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.