UniSuper Management Pty Ltd Sells 260,543 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

UniSuper Management Pty Ltd trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 69.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,190 shares of the company’s stock after selling 260,543 shares during the period. UniSuper Management Pty Ltd’s holdings in American Electric Power were worth $10,716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the third quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new stake in American Electric Power in the 4th quarter worth approximately $32,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the third quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in American Electric Power in the fourth quarter worth approximately $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AEP has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a report on Wednesday. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, Scotiabank cut 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 given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average target price of $100.77.

American Electric Power Trading Up 1.2 %

Shares of AEP opened at $105.15 on Friday. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.52. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $102.58 and its 200-day moving average price is $99.13. The firm has a market capitalization of $56.12 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its earnings results 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 return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the prior year, the business posted $1.23 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 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.