Nuveen Asset Management LLC Sells 664 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Nuveen Asset Management LLC lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,719,415 shares of the company’s stock after selling 664 shares during the period. Nuveen Asset Management LLC’s holdings in American Electric Power were worth $435,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the fourth quarter worth $25,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of American Electric Power during the 4th quarter worth $35,000. Kestra Investment Management LLC bought a new stake in shares of American Electric Power during the 4th quarter worth $35,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of American Electric Power in the fourth quarter worth about $38,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 1.0%

Shares of NASDAQ:AEP opened at $98.59 on Thursday. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market cap of $52.67 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.97 and a beta of 0.45. The business has a fifty day simple moving average of $105.42 and a 200 day simple moving average of $100.26.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the business earned $1.27 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

Analyst Ratings Changes

A number of research analysts have recently commented on AEP shares. Guggenheim increased their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Citigroup increased their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Morgan Stanley set a $114.00 price target on American Electric Power and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Finally, Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $105.77.

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.