Massachusetts Financial Services Co. MA Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Massachusetts Financial Services Co. MA decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 5.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,217,829 shares of the company’s stock after selling 336,014 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in American Electric Power were worth $467,705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AEP. Fairfield Bush & CO. acquired a new position in shares of American Electric Power in the 1st quarter valued at $40,000. Westwood Holdings Group Inc. acquired a new stake in American Electric Power during the 1st quarter worth about $211,000. Cibc World Market Inc. grew its position in American Electric Power by 13.1% during the 1st quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock worth $3,074,000 after purchasing an additional 3,558 shares during the period. Sei Investments Co. grew its position in American Electric Power by 17.7% during the 1st quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock worth $20,569,000 after purchasing an additional 30,836 shares during the period. Finally, Cetera Investment Advisers grew its position in American Electric Power by 1.6% during the 1st quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock worth $3,643,000 after purchasing an additional 577 shares during the period. 74.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on American Electric Power from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 21st. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Thursday, January 11th. Guggenheim downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Sunday, November 12th. Finally, Bank of America cut their price target on American Electric Power from $91.00 to $77.00 in a research report on Thursday, October 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.73.

Get Our Latest Research Report on American Electric Power

American Electric Power Trading Down 1.3 %

Shares of American Electric Power stock opened at $78.63 on Monday. The firm has a market capitalization of $41.35 billion, a PE ratio of 18.03, a P/E/G ratio of 2.77 and a beta of 0.49. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $96.05. The firm’s 50-day moving average price is $80.48 and its 200 day moving average price is $79.10. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.37 billion. American Electric Power had a net margin of 11.72% and a return on equity of 10.73%. American Electric Power’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.27 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 9th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, February 8th. American Electric Power’s dividend payout ratio is presently 80.73%.

American Electric Power Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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