Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,961 shares of the company’s stock after selling 650 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in American Electric Power were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Apella Capital LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth about $348,000. Rockline Wealth Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth about $1,982,000. Nisa Investment Advisors LLC lifted its position in shares of American Electric Power by 28.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,065 shares during the period. Nordea Investment Management AB lifted its position in shares of American Electric Power by 1,592.1% in the 4th quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock worth $33,612,000 after purchasing an additional 389,675 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of American Electric Power by 26.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock worth $190,432,000 after purchasing an additional 522,608 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the subject of several research reports. Cfra reiterated a “buy” rating and issued a $92.00 price target (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Scotiabank decreased their price target on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Thursday, January 11th. BMO Capital Markets raised their price objective 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. Finally, UBS Group lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.08.

American Electric Power Price Performance

Shares of AEP stock traded down $1.60 during mid-day trading on Friday, hitting $85.26. The company had a trading volume of 2,975,865 shares, compared to its average volume of 2,656,889. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $93.56. The stock’s 50 day moving average price is $83.53 and its 200-day moving average price is $80.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The company has a market capitalization of $44.90 billion, a P/E ratio of 20.06, a P/E/G ratio of 3.07 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s dividend payout ratio is presently 82.82%.

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.