Amalgamated Bank Has $10.06 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Amalgamated Bank cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,834 shares of the company’s stock after selling 7,550 shares during the period. Amalgamated Bank’s holdings in American Electric Power were worth $10,058,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BLB&B Advisors LLC boosted its holdings in American Electric Power by 4.0% during the fourth quarter. BLB&B Advisors LLC now owns 3,405 shares of the company’s stock worth $277,000 after purchasing an additional 131 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of American Electric Power by 4.4% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 3,150 shares of the company’s stock valued at $237,000 after acquiring an additional 132 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of American Electric Power by 2.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 4,975 shares of the company’s stock valued at $404,000 after acquiring an additional 135 shares during the last quarter. CENTRAL TRUST Co raised its holdings in American Electric Power by 1.0% during the fourth quarter. CENTRAL TRUST Co now owns 14,598 shares of the company’s stock worth $1,186,000 after acquiring an additional 138 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its position in American Electric Power by 3.1% during the third quarter. Pinnacle West Asset Management Inc. now owns 4,715 shares of the company’s stock valued at $355,000 after purchasing an additional 140 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.4 %

Shares of AEP stock traded up $0.35 on Friday, hitting $88.60. The company had a trading volume of 3,332,412 shares, compared to its average volume of 3,215,932. The stock’s 50-day moving average is $84.10 and its two-hundred day moving average is $80.86. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.36 and a current ratio of 0.54. The firm has a market cap of $46.70 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.73 and a beta of 0.50. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $92.88.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm earned $1.11 earnings per share. American Electric Power’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.97%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their price target for the company from $86.00 to $83.00 in a research note on Monday, March 11th. BMO Capital Markets lifted their target price on American Electric Power from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. Cfra reaffirmed a “buy” rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Finally, LADENBURG THALM/SH SH cut shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $88.14.

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.