Nordea Investment Management AB Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Nordea Investment Management AB lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 661,398 shares of the company’s stock after selling 88,621 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of American Electric Power worth $60,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pathway Financial Advisers LLC increased its stake in American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after buying an additional 1,962,125 shares during the last quarter. State Street Corp lifted its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. FMR LLC grew its holdings in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of American Electric Power during the 3rd quarter worth approximately $80,207,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AEP shares. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $97.13.

American Electric Power Stock Up 0.2 %

AEP stock opened at $90.47 on Wednesday. The firm has a market cap of $48.14 billion, a PE ratio of 18.13, a P/E/G ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $95.02 and a 200 day simple moving average of $96.58.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 4.11%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

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.