Transcend Capital Advisors LLC Sells 328 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Transcend Capital Advisors LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,797 shares of the company’s stock after selling 328 shares during the period. Transcend Capital Advisors LLC’s holdings in American Electric Power were worth $2,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC grew its stake in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares during the period. FMR LLC increased its position in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of American Electric Power by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company’s stock worth $427,009,000 after purchasing an additional 100,578 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after buying an additional 1,962,125 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AEP has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the company from $98.00 to $104.00 in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Performance

Shares of AEP opened at $105.33 on Friday. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $105.73. The stock’s 50-day simple moving average is $96.51 and its 200 day simple moving average is $98.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization of $56.16 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 in the prior year, the business 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 declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.53%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

American Electric Power Profile

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.