FineMark National Bank & Trust Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

FineMark National Bank & Trust trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,873 shares of the company’s stock after selling 740 shares during the quarter. FineMark National Bank & Trust’s holdings in American Electric Power were worth $1,095,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ bought a new position in shares of American Electric Power during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth about $33,000. Fairway Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AEP shares. Barclays decreased their price objective 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 increased their price target on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Scotiabank lowered 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 report on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Bank of America raised their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $99.92.

American Electric Power Stock Down 1.6 %

AEP opened at $102.50 on Wednesday. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $109.52. 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 cap of $54.70 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The firm’s fifty day moving average is $102.24 and its 200 day moving average is $99.05.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates 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 last year, the business earned $1.23 earnings per share. On average, sell-side analysts forecast 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 was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is currently 66.43%.

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.