Fmr LLC Trims Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Fmr LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 61.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,650,946 shares of the company’s stock after selling 4,216,006 shares during the period. Fmr LLC owned about 0.50% of American Electric Power worth $244,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power during the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power during the fourth quarter valued at $35,000. Kestra Investment Management LLC bought a new position in shares of American Electric Power in the fourth quarter worth about $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in American Electric Power in the 4th quarter worth about $38,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AEP shares. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley lifted their target price on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, BMO Capital Markets increased their price target on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.77.

American Electric Power Stock Up 1.4 %

NASDAQ:AEP opened at $104.63 on Friday. 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 Company, Inc. has a twelve month low of $79.16 and a twelve month high of $110.48. The company has a market cap of $55.84 billion, a PE ratio of 18.68, a P/E/G ratio of 2.97 and a beta of 0.43. The company’s 50 day moving average is $104.24 and its two-hundred day moving average is $99.30.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the firm earned $1.23 EPS. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is 66.43%.

About American Electric Power

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.