Holderness Investments Co. Has $274,000 Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Holderness Investments Co. reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,974 shares of the company’s stock after selling 296 shares during the quarter. Holderness Investments Co.’s holdings in American Electric Power were worth $274,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its holdings in shares of American Electric Power by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,874 shares of the company’s stock valued at $2,860,000 after acquiring an additional 1,131 shares during the last quarter. Quest Partners LLC acquired a new position in American Electric Power during the third quarter valued at approximately $377,000. Pathstone Holdings LLC raised its position in shares of American Electric Power by 1.7% in the third quarter. Pathstone Holdings LLC now owns 52,427 shares of the company’s stock valued at $5,379,000 after purchasing an additional 878 shares during the period. Caprock Group LLC lifted its stake in shares of American Electric Power by 8.6% in the third quarter. Caprock Group LLC now owns 7,251 shares of the company’s stock worth $744,000 after buying an additional 573 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in shares of American Electric Power by 14.6% during the 3rd quarter. Prospera Financial Services Inc now owns 17,937 shares of the company’s stock worth $1,841,000 after buying an additional 2,287 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

American Electric Power stock opened at $106.21 on Friday. The business’s fifty day moving average is $101.66 and its two-hundred day moving average is $99.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a market cap of $56.68 billion, a P/E ratio of 18.97, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting 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 in the previous year, the firm earned $1.23 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio is presently 66.43%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America increased their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their price objective on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $99.92.

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.