EverSource Wealth Advisors LLC Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

EverSource Wealth Advisors LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,799 shares of the company’s stock after selling 152 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in American Electric Power were worth $258,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. DAVENPORT & Co LLC raised its position in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after acquiring an additional 3,288 shares during the period. Secure Asset Management LLC raised its position in shares of American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust lifted its stake in American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares in the last quarter. J2 Capital Management Inc acquired a new stake in American Electric Power in the 4th quarter worth about $419,000. Finally, Principal Financial Group Inc. increased its stake in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $105.56 on Friday. The firm has a market cap of $56.29 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52. The business’s fifty day simple moving average is $100.49 and its 200-day simple moving average is $98.87.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the firm earned $1.23 earnings per share. Equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Morgan Stanley decreased their price target 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. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets decreased their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.46.

About American Electric Power

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.