American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Soroban Capital Partners LP

Soroban Capital Partners LP reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,247,422 shares of the company's stock after selling 264,000 shares during the period. American Electric Power makes up about 1.5% of Soroban Capital Partners LP's holdings, making the stock its 16th largest holding. Soroban Capital Partners LP owned about 0.23% of American Electric Power worth $115,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in shares of American Electric Power during the fourth quarter worth about $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of American Electric Power during the fourth quarter worth about $38,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of AEP traded down $1.13 during mid-day trading on Thursday, reaching $101.80. 3,284,005 shares of the company's stock were exchanged, compared to its average volume of 3,211,055. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a 50-day simple moving average of $105.24 and a two-hundred day simple moving average of $100.43. 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 market cap of $54.38 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. American Electric Power's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business 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 dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. American Electric Power's dividend payout ratio is presently 71.68%.

Analyst Ratings Changes

Several brokerages have issued reports on AEP. Morgan Stanley dropped their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday. Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Guggenheim raised their price target on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets raised 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. Finally, Citigroup raised their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has an average rating of "Hold" and a consensus price target of $105.69.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company's stock.

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.