1ST Source Bank Reduces Position in American Electric Power Company, Inc. (NASDAQ:AEP)

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

Several other institutional investors and hedge funds have also modified their holdings of AEP. Raymond James Financial Inc. purchased a new position in shares of American Electric Power during the 4th quarter worth $220,983,000. Janus Henderson Group PLC lifted its stake in shares of American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after buying an additional 1,962,125 shares in the last quarter. State Street Corp lifted its stake in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. FMR LLC lifted its stake in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of American Electric Power during the 3rd quarter valued at $80,207,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

American Electric Power stock opened at $105.56 on Monday. The company’s 50-day moving average price is $100.49 and its 200-day moving average price is $98.87. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. 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 company 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.

American Electric Power (NASDAQ:AEP) last posted its earnings results 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 net margin of 15.08% and a return on equity of 11.27%. During the same period in the prior year, the firm posted $1.23 EPS. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of analyst reports. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their target price for the company from $98.00 to $104.00 in a research note on Monday, January 13th. BMO Capital Markets lowered 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. Barclays reduced their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, Morgan Stanley reduced 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 report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target 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.