1ST Source Bank Sells 153 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

1ST Source Bank cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,859 shares of the company’s stock after selling 153 shares during the period. 1ST Source Bank’s holdings in American Electric Power were worth $2,477,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of American Electric Power during the fourth quarter valued at about $220,983,000. Janus Henderson Group PLC raised its stake in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares during the last quarter. State Street Corp raised its stake in shares of American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the last quarter. FMR LLC raised its stake in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of American Electric Power during the third quarter valued at about $80,207,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Price Performance

Shares of AEP opened at $105.56 on Monday. The company has a market capitalization of $56.29 billion, a P/E 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. The firm has a 50 day moving average of $100.49 and a 200 day moving average of $98.87. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting 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 in the prior year, the company earned $1.23 earnings per share. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

Analysts Set New Price Targets

AEP has been the subject of a number of research reports. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reissued 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 decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average target price of $98.46.

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.