Cresset Asset Management LLC Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cresset Asset Management LLC reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 75.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,540 shares of the company's stock after selling 29,136 shares during the period. Cresset Asset Management LLC's holdings in American Electric Power were worth $880,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AEP. Caption Management LLC acquired a new position in American Electric Power in the fourth quarter valued at $2,306,000. Cetera Investment Advisers boosted its holdings in American Electric Power by 7.6% in the fourth quarter. Cetera Investment Advisers now owns 188,746 shares of the company's stock valued at $17,408,000 after acquiring an additional 13,344 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in American Electric Power by 21.5% in the fourth quarter. BROOKFIELD Corp ON now owns 45,568 shares of the company's stock valued at $4,203,000 after acquiring an additional 8,078 shares during the last quarter. Captrust Financial Advisors boosted its holdings in American Electric Power by 2.6% in the fourth quarter. Captrust Financial Advisors now owns 83,284 shares of the company's stock valued at $7,681,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in American Electric Power in the fourth quarter valued at $3,230,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $100.99 on Tuesday. The stock has a fifty day moving average of $105.61 and a 200-day moving average of $100.28. 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 Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The company has a market capitalization of $53.95 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the business earned $1.27 EPS. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared 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 3.68%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AEP. Guggenheim boosted their price objective on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. BMO Capital Markets boosted their price objective on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Citigroup upped their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Barclays increased their price objective 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. Finally, 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $105.77.

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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.