Farther Finance Advisors LLC Sells 684 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Farther Finance Advisors LLC lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,558 shares of the company’s stock after selling 684 shares during the period. Farther Finance Advisors LLC’s holdings in American Electric Power were worth $605,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AEP. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the 3rd quarter worth $25,000. Fairway Wealth LLC bought a new stake in American Electric Power in the 4th quarter worth $32,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power in the 3rd quarter worth $33,000. Newbridge Financial Services Group Inc. bought a new stake in American Electric Power in the 4th quarter worth $35,000. Finally, Kestra Investment Management LLC bought a new stake in American Electric Power in the 4th quarter worth $35,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.46.

American Electric Power Stock Up 1.3 %

Shares of American Electric Power stock opened at $105.56 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization 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 Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. The company has a 50-day simple moving average of $100.49 and a two-hundred day simple moving average of $98.87.

American Electric Power (NASDAQ:AEP) last issued 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 in the previous year, the firm earned $1.23 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. 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%.

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.