Gen Wealth Partners Inc Sells 331 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Gen Wealth Partners Inc reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 13.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,076 shares of the company’s stock after selling 331 shares during the quarter. Gen Wealth Partners Inc’s holdings in American Electric Power were worth $191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AEP. Raymond James Financial Inc. purchased a new position in shares of American Electric Power in the fourth quarter worth about $220,983,000. Cohen & Steers Inc. bought a new position in American Electric Power during the 4th quarter worth approximately $121,605,000. Bank of America Corp DE increased its stake in American Electric Power by 27.5% in the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company’s stock worth $472,270,000 after purchasing an additional 1,105,317 shares during the period. Vanguard Group Inc. boosted its stake in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock valued at $4,767,425,000 after purchasing an additional 763,813 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of American Electric Power by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company’s stock worth $315,498,000 after purchasing an additional 738,756 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.5 %

NASDAQ:AEP opened at $104.68 on Friday. The stock has a market cap of $55.92 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.97 and a beta of 0.45. 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’s 50 day moving average price is $105.65 and its 200-day moving average price is $100.25. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 EPS. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.55%. American Electric Power’s payout ratio is 71.68%.

Analysts Set New Price Targets

A number of research firms recently commented on AEP. Morgan Stanley set a $114.00 price target on shares of American Electric Power and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday. Guggenheim upped their price target on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Finally, Bank of America raised their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $105.77.

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.