Pinnacle Financial Partners Inc Trims Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Pinnacle Financial Partners Inc cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,886 shares of the company’s stock after selling 5,400 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in American Electric Power were worth $8,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the 3rd quarter worth about $33,000. Newbridge Financial Services Group Inc. bought a new position in American Electric Power in the 4th quarter worth about $35,000. Kestra Investment Management LLC bought a new position in American Electric Power in the 4th quarter worth about $35,000. Finally, Reston Wealth Management LLC bought a new position in American Electric Power in the 3rd quarter worth about $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AEP shares. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. UBS Group upped their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Price Performance

NASDAQ AEP opened at $105.33 on Friday. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $105.73. The firm has a market capitalization of $56.16 billion, a P/E ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.58. 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 50-day moving average price of $96.51 and a 200-day moving average price of $98.08.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 last year, the business posted $1.23 earnings per share. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is 66.43%.

About American Electric Power

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.