Procyon Advisors LLC Sells 558 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Procyon Advisors LLC lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,908 shares of the company’s stock after selling 558 shares during the period. Procyon Advisors LLC’s holdings in American Electric Power were worth $805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSC Wealth Advisors LLC raised its position in shares of American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after purchasing an additional 242 shares during the period. Fairfield Bush & CO. bought a new stake in American Electric Power during the 2nd quarter worth approximately $26,000. Penserra Capital Management LLC bought a new stake in American Electric Power during the 1st quarter worth approximately $27,000. Pacifica Partners Inc. increased its holdings in American Electric Power by 2,343.8% during the 3rd quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock worth $28,000 after acquiring an additional 375 shares during the period. Finally, True Wealth Design LLC bought a new stake in American Electric Power during the 4th quarter worth approximately $28,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AEP. BMO Capital Markets boosted their price target on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Thursday, January 11th. UBS Group lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $86.00 to $83.00 in a report on Monday, March 11th. Cfra reiterated a “buy” rating and set a $92.00 price target (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Finally, LADENBURG THALM/SH SH lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $75.50 to $73.00 in a report on Friday, March 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $87.08.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded up $0.55 during trading on Thursday, reaching $85.35. 288,980 shares of the company traded hands, compared to its average volume of 4,023,042. The firm has a 50 day simple moving average of $80.93 and a 200-day simple moving average of $79.31. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $44.94 billion, a PE ratio of 19.95, a P/E/G ratio of 2.91 and a beta of 0.51. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $96.05.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.12 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 9th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s payout ratio is 82.82%.

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.