Envestnet Asset Management Inc. Trims Stock Holdings in American Electric Power Company, Inc. $AEP

Envestnet Asset Management Inc. lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,359,755 shares of the company’s stock after selling 14,969 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American Electric Power were worth $377,972,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PFG Investments LLC boosted its position in shares of American Electric Power by 0.3% during the 3rd quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock worth $2,793,000 after purchasing an additional 83 shares during the period. Strategic Advisors LLC lifted its stake in American Electric Power by 0.3% during the third quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock worth $2,993,000 after purchasing an additional 87 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in American Electric Power by 12.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock worth $82,000 after purchasing an additional 89 shares in the last quarter. Gilbert & Cook Inc. boosted its position in shares of American Electric Power by 2.3% during the second quarter. Gilbert & Cook Inc. now owns 4,036 shares of the company’s stock worth $419,000 after buying an additional 91 shares during the period. Finally, Eagle Strategies LLC grew its stake in shares of American Electric Power by 1.7% in the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company’s stock valued at $572,000 after buying an additional 94 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the transaction, the director owned 25,898 shares in the company, valued at $2,980,082.86. The trade was a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by company insiders.

American Electric Power Price Performance

AEP stock opened at $119.98 on Thursday. The business’s 50-day moving average is $117.11 and its two-hundred day moving average is $115.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. The firm has a market capitalization of $64.08 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.88 and a beta of 0.62. American Electric Power Company, Inc. has a 1 year low of $97.46 and a 1 year high of $124.80.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s payout ratio is currently 55.39%.

Analysts Set New Price Targets

AEP has been the topic of several research reports. Williams Trading set a $137.00 target price on American Electric Power in a research note on Thursday, December 18th. UBS Group cut their price target on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a research note on Wednesday, December 17th. Morgan Stanley reissued an “overweight” rating and set a $125.00 price target on shares of American Electric Power in a research report on Wednesday, January 21st. Citigroup raised their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, LADENBURG THALM/SH SH dropped their price objective on shares of American Electric Power from $124.50 to $117.50 and set a “neutral” rating for the company in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.39.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.