Family Legacy Inc. Lowers Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Family Legacy Inc. trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 19.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,875 shares of the company’s stock after selling 1,915 shares during the period. Family Legacy Inc.’s holdings in American Electric Power were worth $640,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares in the last quarter. State Street Corp increased its stake in American Electric Power by 0.3% during the second quarter. State Street Corp now owns 27,146,446 shares of the company’s stock worth $2,285,731,000 after acquiring an additional 86,801 shares during the last quarter. Morgan Stanley increased its stake in American Electric Power by 4.1% during the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after acquiring an additional 587,145 shares during the last quarter. Invesco Ltd. increased its stake in American Electric Power by 13.7% during the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after acquiring an additional 1,181,706 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in American Electric Power by 5.1% during the third quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock worth $580,308,000 after acquiring an additional 374,300 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AEP. UBS Group cut American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Barclays reaffirmed an “equal weight” rating and set a $83.00 target price (down previously from $84.00) on shares of American Electric Power in a research note on Wednesday, February 28th. Cfra reaffirmed a “buy” rating and set a $92.00 target price (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Thursday, January 11th. Finally, BMO Capital Markets upped their target price on American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.08.

American Electric Power Stock Down 0.5 %

Shares of American Electric Power stock traded down $0.39 during trading on Tuesday, reaching $82.48. The company’s stock had a trading volume of 2,225,080 shares, compared to its average volume of 4,106,849. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The company has a market cap of $43.43 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.93 and a beta of 0.51. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $96.05. The company has a 50-day simple moving average of $80.83 and a two-hundred day simple moving average of $79.28.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 9th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, February 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.27%. American Electric Power’s payout ratio is currently 82.82%.

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.