Envestnet Portfolio Solutions Inc. Sells 24,423 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Portfolio Solutions Inc. lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 38.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,289 shares of the company’s stock after selling 24,423 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in American Electric Power were worth $3,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in shares of American Electric Power by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 27,874 shares of the company’s stock valued at $2,860,000 after buying an additional 1,131 shares during the period. Quest Partners LLC purchased a new position in American Electric Power during the 3rd quarter valued at $377,000. Aviance Capital Partners LLC raised its holdings in American Electric Power by 35.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 9,647 shares of the company’s stock worth $990,000 after purchasing an additional 2,508 shares in the last quarter. Pathstone Holdings LLC raised its holdings in American Electric Power by 1.7% in the 3rd quarter. Pathstone Holdings LLC now owns 52,427 shares of the company’s stock worth $5,379,000 after purchasing an additional 878 shares in the last quarter. Finally, Caprock Group LLC lifted its position in shares of American Electric Power by 8.6% in the 3rd quarter. Caprock Group LLC now owns 7,251 shares of the company’s stock worth $744,000 after purchasing an additional 573 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.1 %

Shares of American Electric Power stock opened at $105.84 on Thursday. The company has a 50-day simple moving average of $101.38 and a two-hundred day simple moving average of $99.00. The stock has a market capitalization of $56.44 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. 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 announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share 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 last year, the company posted $1.23 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.51%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley decreased their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Bank of America lifted their price target on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $99.23.

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.