EP Wealth Advisors LLC Sells 704 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

EP Wealth Advisors LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,353 shares of the company’s stock after selling 704 shares during the quarter. EP Wealth Advisors LLC’s holdings in American Electric Power were worth $955,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of American Electric Power in the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new position in American Electric Power during the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in American Electric Power in the fourth quarter valued at $35,000. Newbridge Financial Services Group Inc. bought a new stake in American Electric Power during the fourth quarter valued at $35,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of American Electric Power in the 4th quarter worth about $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AEP shares. Guggenheim boosted their price target on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Bank of America raised their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus target price of $105.77.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $104.68 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $55.92 billion, a PE ratio of 18.69, a PEG ratio of 2.97 and a beta of 0.45. The stock’s 50 day moving average price is $105.65 and its 200-day moving average price is $100.25. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, May 9th. American Electric Power’s dividend payout ratio is 71.68%.

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.