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 institutional investor owned 4,719,415 shares of the company’s stock after selling 664 shares during the period. Nuveen Asset Management LLC owned about 0.89% of American Electric Power worth $435,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC grew its stake in shares of American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after acquiring an additional 3,288 shares in the last quarter. Secure Asset Management LLC grew its holdings in shares of American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after acquiring an additional 4,370 shares in the last quarter. Grove Bank & Trust grew its stake in shares of American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc bought a new position in shares of American Electric Power in the fourth quarter valued at $419,000. Finally, Merit Financial Group LLC grew its stake in shares of American Electric Power by 136.6% in the fourth quarter. Merit Financial Group LLC now owns 13,714 shares of the company’s stock valued at $1,265,000 after buying an additional 7,918 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AEP shares. Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Barclays lifted their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. BMO Capital Markets lifted their price target on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Bank of America lifted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Finally, Citigroup lifted their target price on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $105.77.

American Electric Power Trading Down 1.0%

Shares of American Electric Power stock opened at $98.59 on Thursday. The firm has a 50-day moving average of $105.42 and a 200-day moving average of $100.26. The stock has a market cap of $52.67 billion, a PE ratio of 17.61, a PEG ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44.

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

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid 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 currently 71.68%.

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.