American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 37,340 shares of the company’s stock after selling 300 shares during the quarter. American Electric Power comprises approximately 2.8% of Garland Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Garland Capital Management Inc.’s holdings in American Electric Power were worth $3,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sciencast Management LP acquired a new position in shares of American Electric Power during the 4th quarter valued at about $1,335,000. Summit Global Investments boosted its position in shares of American Electric Power by 180.7% during the 4th quarter. Summit Global Investments now owns 39,111 shares of the company’s stock valued at $3,607,000 after acquiring an additional 25,178 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of American Electric Power during the 4th quarter valued at about $210,000. Lee Danner & Bass Inc. acquired a new position in American Electric Power in the fourth quarter valued at about $38,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in American Electric Power by 0.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 31,127 shares of the company’s stock valued at $2,871,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. BMO Capital Markets decreased their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Barclays cut their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.92.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $105.11 on Friday. The firm has a market capitalization of $56.10 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $101.89 and its two-hundred day moving average is $99.08.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the company earned $1.23 EPS. Research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is currently 66.43%.

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.