Amalgamated Bank Decreases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Amalgamated Bank decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,702 shares of the company’s stock after selling 1,883 shares during the quarter. Amalgamated Bank’s holdings in American Electric Power were worth $9,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the third quarter worth $33,000. Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $35,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power in the fourth quarter worth about $35,000. Finally, Reston Wealth Management LLC acquired a new position in American Electric Power during the third quarter worth about $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 1.3 %

American Electric Power stock opened at $107.70 on Wednesday. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $107.84. The firm has a 50 day moving average price of $97.11 and a 200 day moving average price of $98.20. The company has a market capitalization of $57.43 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP) last issued 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 quarter last year, the firm earned $1.23 EPS. Research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, BMO Capital Markets lowered their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.00.

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.