New England Asset Management Inc. Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

New England Asset Management Inc. trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,060 shares of the company’s stock after selling 5,120 shares during the quarter. New England Asset Management Inc.’s holdings in American Electric Power were worth $2,588,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in American Electric Power in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $35,000. Finally, Lee Danner & Bass Inc. acquired a new position in American Electric Power in the fourth quarter valued at approximately $38,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AEP shares. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Guggenheim increased their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $105.77.

American Electric Power Price Performance

American Electric Power stock opened at $100.99 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The business has a 50 day simple moving average of $105.61 and a 200-day simple moving average of $100.28. The stock has a market capitalization of $53.95 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 earnings per share. Equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

American Electric Power Company 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.