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

PNC Financial Services Group Inc. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 555,400 shares of the company’s stock after selling 9,766 shares during the quarter. PNC Financial Services Group Inc. owned about 0.10% of American Electric Power worth $51,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $33,000. Kestra Investment Management LLC acquired a new stake in shares of American Electric Power during the 4th quarter worth about $35,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power during the 4th quarter worth about $35,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of American Electric Power during the 4th quarter worth about $49,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEP. JPMorgan Chase & Co. reissued 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 downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley cut their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Finally, Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.46.

American Electric Power Stock Performance

Shares of AEP opened at $104.62 on Monday. The stock has a 50-day simple moving average of $99.21 and a 200-day simple moving average of $98.64. 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 stock has a market capitalization of $55.78 billion, a PE ratio of 18.68, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $109.52.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data 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 period in the previous year, the firm posted $1.23 earnings per share. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is presently 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.