Mizuho Securities USA LLC Cuts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)
Mizuho Securities USA LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,500 shares of the company’s stock after selling 2,400 shares during the period. Mizuho Securities USA LLC’s holdings in American Electric Power were worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC boosted its position in American Electric Power by 20.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 3,543 shares of the company’s stock valued at $336,000 after buying an additional 604 shares during the last quarter. Peddock Capital Advisors LLC purchased a new position in American Electric Power in the fourth quarter valued at about $568,000. Principle Wealth Partners LLC grew its stake in American Electric Power by 44.4% during the 4th quarter. Principle Wealth Partners LLC now owns 19,397 shares of the company’s stock valued at $1,842,000 after purchasing an additional 5,962 shares in the last quarter. Simplicity Solutions LLC increased its holdings in American Electric Power by 12.2% during the 4th quarter. Simplicity Solutions LLC now owns 11,019 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,195 shares during the last quarter. Finally, ARGI Investment Services LLC raised its position in shares of American Electric Power by 6.4% in the 4th quarter. ARGI Investment Services LLC now owns 17,117 shares of the company’s stock valued at $1,625,000 after purchasing an additional 1,031 shares in the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of American Electric Power from $101.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company cut American Electric Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $108.00 to $99.00 in a research note on Wednesday, February 1st. JPMorgan Chase & Co. decreased their target price on American Electric Power from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Friday, March 10th. BMO Capital Markets boosted their price target on American Electric Power from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Monday. Finally, Royal Bank of Canada reduced their price objective on American Electric Power from $109.00 to $103.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $99.19.
Insider Buying and Selling at American Electric Power
In other American Electric Power news, EVP David Matthew Feinberg sold 3,997 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $91.69, for a total transaction of $366,484.93. Following the transaction, the executive vice president now owns 11,871 shares of the company’s stock, valued at approximately $1,088,451.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP David Matthew Feinberg sold 3,997 shares of American Electric Power stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $91.69, for a total value of $366,484.93. Following the transaction, the executive vice president now owns 11,871 shares of the company’s stock, valued at approximately $1,088,451.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas K. Akins sold 51,034 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $89.44, for a total transaction of $4,564,480.96. Following the completion of the transaction, the insider now owns 143,547 shares of the company’s stock, valued at $12,838,843.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,894 shares of company stock valued at $6,090,385. Company insiders own 0.12% of the company’s stock.
American Electric Power Stock Performance
Shares of American Electric Power stock traded up $0.11 during trading hours on Thursday, reaching $93.65. The company’s stock had a trading volume of 859,248 shares, compared to its average volume of 2,837,472. The company’s 50 day simple moving average is $90.74 and its 200 day simple moving average is $91.69. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.56 and a current ratio of 0.65. American Electric Power Company, Inc. has a one year low of $80.30 and a one year high of $105.60. The stock has a market cap of $48.17 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45.
American Electric Power (NASDAQ:AEP – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.26 billion. American Electric Power had a net margin of 11.77% and a return on equity of 10.75%. During the same quarter last year, the company earned $0.98 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.
American Electric Power Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 10th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $3.32 annualized dividend and a yield of 3.55%. American Electric Power’s payout ratio is 73.61%.
American Electric Power Profile
American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.
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