PNC Financial Services Group Inc. Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

PNC Financial Services Group Inc. decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 555,400 shares of the company’s stock after selling 9,766 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American Electric Power were worth $51,225,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power during the third quarter worth approximately $33,000. Newbridge Financial Services Group Inc. acquired a new position in American Electric Power during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in American Electric Power during the fourth quarter worth approximately $35,000. Finally, Decker Retirement Planning Inc. acquired a new position in American Electric Power during the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 2.0 %

American Electric Power stock opened at $104.62 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.52. The company has a market cap of $55.78 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The stock’s 50 day moving average price is $99.21 and its 200 day moving average price is $98.64.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the firm earned $1.23 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.56%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Analyst Ratings Changes

Several research analysts have commented on AEP shares. BMO Capital Markets cut their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays cut their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.46.

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.