Everence Capital Management Inc. Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Everence Capital Management Inc. decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,450 shares of the company’s stock after selling 3,820 shares during the period. Everence Capital Management Inc.’s holdings in American Electric Power were worth $1,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of American Electric Power by 4.3% during the 3rd 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 period. Geode Capital Management LLC boosted its position in American Electric Power by 2.9% during the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after purchasing an additional 352,588 shares during the period. FMR LLC increased its stake in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC lifted its stake 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 in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AEP shares. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $97.13.

American Electric Power Trading Up 0.1 %

Shares of AEP stock opened at $92.05 on Friday. The business has a 50-day moving average price of $95.34 and a two-hundred day moving average price of $96.42. 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 quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a market cap of $48.98 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.