Cornerstone Advisors LLC Sells 13,100 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Cornerstone Advisors LLC cut its stake in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,900 shares of the company’s stock after selling 13,100 shares during the quarter. Cornerstone Advisors LLC’s holdings in American Electric Power were worth $3,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AEP. Wetzel Investment Advisors Inc. purchased a new position in American Electric Power during the fourth quarter valued at approximately $32,000. GoalVest Advisory LLC lifted its holdings in shares of American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after buying an additional 320 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of American Electric Power in the third quarter worth $36,000. JNBA Financial Advisors lifted its holdings in shares of American Electric Power by 91.6% in the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock worth $36,000 after buying an additional 229 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of American Electric Power in the fourth quarter worth $41,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on AEP shares. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. Wells Fargo & Company boosted their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. BMO Capital Markets boosted their price target on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Finally, Scotiabank boosted their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.43.

Get Our Latest Stock Analysis on AEP

American Electric Power Trading Down 0.1 %

Shares of NASDAQ AEP traded down $0.13 during mid-day trading on Monday, reaching $92.54. The company had a trading volume of 405,503 shares, compared to its average volume of 3,610,256. The business’s 50-day moving average is $85.54 and its 200-day moving average is $82.08. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The stock has a market cap of $48.78 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $92.97.

American Electric Power (NASDAQ:AEPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 earnings per share. Equities analysts expect that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is presently 65.31%.

About American Electric Power

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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