HBK Sorce Advisory LLC Has $722,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

HBK Sorce Advisory LLC lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,886 shares of the company’s stock after selling 743 shares during the period. HBK Sorce Advisory LLC’s holdings in American Electric Power were worth $722,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC increased its holdings in American Electric Power by 222.0% in the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after buying an additional 242 shares during the last quarter. Fairfield Bush & CO. acquired a new position in American Electric Power in the second quarter worth approximately $26,000. Penserra Capital Management LLC acquired a new position in American Electric Power during the first quarter valued at approximately $27,000. Pacifica Partners Inc. grew its holdings in American Electric Power by 2,343.8% during the third quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock valued at $28,000 after purchasing an additional 375 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in American Electric Power during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ AEP opened at $85.08 on Wednesday. The firm has a market cap of $44.80 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.97 and a beta of 0.51. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $94.86. The company has a 50 day moving average of $82.18 and a 200-day moving average of $79.65.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.12 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 9th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Thursday, February 8th. American Electric Power’s dividend payout ratio is currently 82.82%.

Wall Street Analyst Weigh In

Several brokerages have commented on AEP. UBS Group downgraded 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. StockNews.com downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. LADENBURG THALM/SH SH downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Cfra restated a “buy” rating and issued a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Finally, BMO Capital Markets raised their price objective 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $87.08.

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.