Cedrus LLC Has $299,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cedrus LLC lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 43.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,910 shares of the company’s stock after selling 2,243 shares during the period. Cedrus LLC’s holdings in American Electric Power were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its holdings in shares of American Electric Power by 35.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,190 shares of the company’s stock valued at $584,000 after purchasing an additional 1,892 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in American Electric Power in the 4th quarter valued at about $559,000. RFG Advisory LLC bought a new position in shares of American Electric Power during the 1st quarter worth approximately $211,000. International Assets Investment Management LLC boosted its stake in shares of American Electric Power by 24.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,055 shares of the company’s stock worth $343,000 after buying an additional 793 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of American Electric Power by 3.0% in the first quarter. Ballentine Partners LLC now owns 11,488 shares of the company’s stock valued at $989,000 after acquiring an additional 334 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AEP shares. Morgan Stanley boosted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Barclays boosted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets boosted their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average target price of $98.43.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $100.69 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a fifty-two week low of $72.01 and a fifty-two week high of $105.18. The stock has a market cap of $53.08 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The stock has a fifty day moving average of $100.43 and a 200-day moving average of $93.41.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

American Electric Power Company 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.