American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,600 shares of the company’s stock after selling 500 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in American Electric Power were worth $516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the third quarter worth approximately $33,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at approximately $35,000. Finally, Reston Wealth Management LLC acquired a new position in American Electric Power in the 3rd quarter worth approximately $48,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Up 0.9 %

American Electric Power stock opened at $105.33 on Monday. The company has a market capitalization of $56.16 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.95 and a beta of 0.58. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $105.73. The firm’s fifty day simple moving average is $96.51 and its 200-day simple moving average is $98.07. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share 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 earned $1.23 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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 dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.53%. American Electric Power’s payout ratio is currently 66.43%.

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.