American Electric Power Company, Inc. $AEP Stock Holdings Lowered by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 676,830 shares of the company’s stock after selling 154,519 shares during the period. ProShare Advisors LLC’s holdings in American Electric Power were worth $76,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of American Electric Power during the third quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $26,000. Advantage Trust Co increased its position in American Electric Power by 57.1% in the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Montag A & Associates Inc. raised its stake in American Electric Power by 166.0% during the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after acquiring an additional 176 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its position in American Electric Power by 277.1% during the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after acquiring an additional 230 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Williams Trading set a $137.00 price target on American Electric Power in a research note on Thursday, December 18th. Citigroup upped their price objective on shares of American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research report on Wednesday, January 21st. Evercore restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Finally, Siebert Williams Shank started coverage on shares of American Electric Power in a research note on Thursday, December 18th. They issued a “buy” rating and a $137.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Price Performance

NASDAQ:AEP opened at $121.10 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The business’s 50-day moving average price is $117.04 and its 200 day moving average price is $115.60. American Electric Power Company, Inc. has a 52-week low of $97.46 and a 52-week high of $124.80. The firm has a market cap of $64.68 billion, a P/E ratio of 17.65, a PEG ratio of 2.88 and a beta of 0.62.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s payout ratio is presently 55.39%.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the sale, the director directly owned 25,898 shares in the company, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate 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.