American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,864 shares of the company’s stock after selling 205 shares during the quarter. Sovereign Financial Group Inc.’s holdings in American Electric Power were worth $314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AEP. Wetzel Investment Advisors Inc. acquired a new position in American Electric Power during the 4th quarter worth approximately $32,000. GoalVest Advisory LLC lifted its position in shares of American Electric Power by 304.8% during the 4th quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the last quarter. JNBA Financial Advisors grew its stake in shares of American Electric Power by 91.6% during the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after purchasing an additional 229 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $36,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on AEP. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Thursday, January 11th. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and reduced their price target for the company from $86.00 to $83.00 in a research report on Monday, March 11th. LADENBURG THALM/SH SH lowered American Electric Power from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $75.50 to $73.00 in a report on Friday, March 8th. Wells Fargo & Company boosted their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Finally, Guggenheim downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.14.

American Electric Power Stock Performance

American Electric Power stock traded up $1.06 during trading hours on Tuesday, reaching $89.87. 3,330,578 shares of the stock were exchanged, compared to its average volume of 3,750,336. The stock has a market cap of $47.37 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.74 and a beta of 0.50. The firm’s 50 day moving average is $84.26 and its 200 day moving average is $81.04. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $92.88.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is 65.31%.

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.