Mitsubishi UFJ Trust & Banking Corp Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,363,330 shares of the company’s stock after selling 397,758 shares during the period. American Electric Power makes up approximately 0.7% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 15th largest holding. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.63% of American Electric Power worth $310,215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power in the fourth quarter worth $25,000. Fairway Wealth LLC bought a new stake in American Electric Power during the 4th quarter valued at $32,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power during the 3rd quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in American Electric Power in the 4th quarter worth $35,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AEP shares. Bank of America increased their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley raised their price target on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets reduced their price objective 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. Finally, Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $99.92.

American Electric Power Trading Down 0.9 %

American Electric Power stock opened at $104.18 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month 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 business’s fifty day simple moving average is $102.08 and its two-hundred day simple moving average is $99.05. The company has a market capitalization of $55.60 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting the consensus estimate 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 in the prior year, the business posted $1.23 EPS. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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 $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.57%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

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.