Peddock Capital Advisors LLC Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Peddock Capital Advisors LLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the company’s stock after selling 142 shares during the period. Peddock Capital Advisors LLC’s holdings in American Electric Power were worth $512,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after purchasing an additional 3,589,451 shares in the last quarter. Invesco Ltd. increased its stake in shares of American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after acquiring an additional 1,181,706 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of American Electric Power by 70.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock valued at $145,835,000 after purchasing an additional 809,067 shares during the period. Lazard Asset Management LLC raised its stake in American Electric Power by 18.1% during the third quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock worth $324,304,000 after purchasing an additional 660,599 shares during the period. Finally, Morgan Stanley boosted its holdings in American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP traded up $0.57 during midday trading on Wednesday, hitting $90.44. The company had a trading volume of 896,076 shares, compared to its average volume of 3,717,836. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $92.10. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $47.67 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.74 and a beta of 0.50. The business has a 50-day simple moving average of $84.26 and a two-hundred day simple moving average of $81.04.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.89%. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets increased their price target on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and cut their price target for the stock from $75.50 to $73.00 in a report on Friday, March 8th. Finally, Royal Bank of Canada increased their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.14.

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.