Rhumbline Advisers Lowers Stake in American Electric Power Company, Inc. $AEP

Rhumbline Advisers decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 889,448 shares of the company’s stock after selling 24,291 shares during the quarter. Rhumbline Advisers’ holdings in American Electric Power were worth $100,063,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. West Family Investments Inc. acquired a new position in American Electric Power in the 2nd quarter valued at about $256,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of American Electric Power by 462.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 52,953 shares of the company’s stock valued at $5,958,000 after purchasing an additional 43,533 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of American Electric Power by 228.6% in the third quarter. Benjamin Edwards Inc. now owns 51,659 shares of the company’s stock valued at $5,812,000 after purchasing an additional 35,938 shares in the last quarter. Invesco Ltd. lifted its holdings in American Electric Power by 5.9% during the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after buying an additional 432,441 shares in the last quarter. Finally, CWM LLC boosted its position in American Electric Power by 807.5% in the 3rd quarter. CWM LLC now owns 263,751 shares of the company’s stock valued at $29,672,000 after buying an additional 234,689 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on AEP. Siebert Williams Shank began coverage on American Electric Power in a research report on Thursday, December 18th. They set a “buy” rating and a $137.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, January 21st. TD Cowen upgraded shares of American Electric Power to a “strong-buy” rating in a research note on Thursday, October 30th. BMO Capital Markets increased their price objective on shares of American Electric Power from $123.00 to $125.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $125.00 price objective on shares of American Electric Power in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.39.

American Electric Power Price Performance

Shares of AEP opened at $122.25 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $124.80. The stock has a market cap of $65.29 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.62. The firm has a fifty day moving average price of $117.16 and a 200 day moving average price of $115.72.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

Insider Buying and Selling

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the completion of the sale, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.