Alpha Cubed Investments LLC Sells 110,434 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Alpha Cubed Investments LLC cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,386 shares of the company’s stock after selling 110,434 shares during the period. Alpha Cubed Investments LLC’s holdings in American Electric Power were worth $13,839,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares in the last quarter. Invesco Ltd. grew its holdings in shares of American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after acquiring an additional 1,181,706 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of American Electric Power by 70.7% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock valued at $145,835,000 after acquiring an additional 809,067 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of American Electric Power by 18.1% in the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after acquiring an additional 660,599 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after acquiring an additional 587,145 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AEP shares. Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Thursday, January 11th. BMO Capital Markets raised their target price on shares of American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $75.50 to $73.00 in a research note on Friday, March 8th. StockNews.com downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.08.

American Electric Power Price Performance

Shares of NASDAQ AEP traded down $0.64 during midday trading on Tuesday, reaching $86.03. The company’s stock had a trading volume of 5,738,277 shares, compared to its average volume of 3,771,013. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.56. The business’s 50 day moving average price is $83.63 and its two-hundred day moving average price is $80.59. The company has a market cap of $45.30 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.01 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.09). American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.09%. American Electric Power’s dividend payout ratio (DPR) is 82.82%.

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.