American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by IFP Advisors Inc

IFP Advisors Inc trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 66.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,416 shares of the company’s stock after selling 12,437 shares during the period. IFP Advisors Inc’s holdings in American Electric Power were worth $595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $35,000. Newbridge Financial Services Group Inc. purchased a new position in American Electric Power in the 4th quarter worth approximately $35,000. Finally, Reston Wealth Management LLC purchased a new position in American Electric Power in the 3rd quarter worth approximately $48,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

AEP stock opened at $106.05 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The firm has a market cap of $56.55 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.97 and a beta of 0.58. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $107.84. The stock’s 50 day simple moving average is $97.98 and its 200 day simple moving average is $98.37.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter last year, the company posted $1.23 EPS. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 66.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AEP shares. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their price target for the stock from $98.00 to $104.00 in a report on Monday, January 13th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Morgan Stanley decreased their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays cut their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.46.

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.