Intech Investment Management LLC Decreases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Intech Investment Management LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,539 shares of the company’s stock after selling 5,284 shares during the quarter. Intech Investment Management LLC’s holdings in American Electric Power were worth $3,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hodges Capital Management Inc. acquired a new position in American Electric Power in the 1st quarter worth $1,615,000. Quantbot Technologies LP purchased a new position in American Electric Power in the first quarter valued at about $1,731,000. Nordea Investment Management AB grew its stake in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after purchasing an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in American Electric Power by 21.7% during the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after purchasing an additional 103,771 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AEP. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research report on Friday. They issued a “hold” rating and a $107.00 target price for the company. Morgan Stanley upped their target price on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Bank of America boosted their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays boosted their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.00.

American Electric Power Trading Up 0.4 %

American Electric Power stock opened at $102.15 on Monday. The firm has a 50-day moving average price of $98.82 and a two-hundred day moving average price of $91.01. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18. The firm has a market capitalization of $53.85 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is currently 65.31%.

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.