Soroban Capital Partners LP Sells 264,000 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Soroban Capital Partners LP lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,247,422 shares of the company’s stock after selling 264,000 shares during the quarter. American Electric Power comprises 1.5% of Soroban Capital Partners LP’s portfolio, making the stock its 16th largest holding. Soroban Capital Partners LP owned approximately 0.23% of American Electric Power worth $115,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in American Electric Power during the 4th quarter worth approximately $220,983,000. Lazard Asset Management LLC increased its stake in shares of American Electric Power by 51.0% in the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock worth $591,791,000 after buying an additional 2,165,888 shares during the period. Cohen & Steers Inc. bought a new stake in American Electric Power in the 4th quarter worth $121,605,000. Bank of America Corp DE increased its position in shares of American Electric Power by 27.5% in the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company’s stock valued at $472,270,000 after acquiring an additional 1,105,317 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock valued at $4,767,425,000 after acquiring an additional 763,813 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.4%

Shares of American Electric Power stock opened at $103.04 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The stock has a market capitalization of $55.04 billion, a PE ratio of 18.40, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The company’s fifty day simple moving average is $105.28 and its 200-day simple moving average is $100.35.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 earnings per share. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is 71.68%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley set a $114.00 price objective on American Electric Power and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Citigroup upped their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Bank of America lifted their price objective on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Guggenheim raised their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One 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. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $105.77.

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.