ProShare Advisors LLC Reduces Holdings in American Electric Power Company, Inc. $AEP

ProShare Advisors LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 676,830 shares of the company’s stock after selling 154,519 shares during the quarter. ProShare Advisors LLC owned 0.13% of American Electric Power worth $76,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AEP. Harbor Capital Advisors Inc. purchased a new stake in shares of American Electric Power during the third quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in American Electric Power in the third quarter valued at about $26,000. Advantage Trust Co grew its stake in American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Montag A & Associates Inc. increased its holdings in American Electric Power by 166.0% during the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock worth $29,000 after purchasing an additional 176 shares during the last quarter. Finally, GoalVest Advisory LLC raised its position in shares of American Electric Power by 277.1% in the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock valued at $32,000 after purchasing an additional 230 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.2%

American Electric Power stock opened at $121.10 on Tuesday. American Electric Power Company, Inc. has a 1 year low of $97.46 and a 1 year high of $124.80. The firm’s 50-day moving average is $117.04 and its 200-day moving average is $115.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The company has a market cap of $64.68 billion, a P/E ratio of 17.65, a PEG ratio of 2.88 and a beta of 0.62.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio is presently 55.39%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho lifted their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Siebert Williams Shank initiated coverage on shares of American Electric Power in a report on Thursday, December 18th. They set a “buy” rating and a $137.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Barclays upped their target price on shares of American Electric Power from $117.00 to $121.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Finally, Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $131.00 to $122.00 in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.39.

Insider Activity

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.