Cornell Pochily Investment Advisors Inc. Reduces Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cornell Pochily Investment Advisors Inc. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,690 shares of the company’s stock after selling 1,025 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in American Electric Power were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AEP. FSC Wealth Advisors LLC boosted its position in American Electric Power by 222.0% during the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock worth $26,000 after acquiring an additional 242 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in American Electric Power during the second quarter worth approximately $26,000. Penserra Capital Management LLC acquired a new stake in American Electric Power during the first quarter worth approximately $27,000. Pacifica Partners Inc. boosted its position in American Electric Power by 2,343.8% during the third quarter. Pacifica Partners Inc. now owns 391 shares of the company’s stock worth $28,000 after acquiring an additional 375 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in American Electric Power during the fourth quarter worth approximately $28,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.1 %

Shares of AEP traded up $0.94 during midday trading on Thursday, hitting $85.74. The company had a trading volume of 501,942 shares, compared to its average volume of 4,027,395. The company’s 50 day moving average price is $80.93 and its 200 day moving average price is $79.31. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.91 and a beta of 0.51. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $96.05. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49.

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

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is presently 82.82%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEP. BMO Capital Markets lifted their price target on shares of American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. LADENBURG THALM/SH SH lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price target for the company from $75.50 to $73.00 in a report on Friday, March 8th. Barclays reiterated an “equal weight” rating and issued a $83.00 price target (down previously from $84.00) on shares of American Electric Power in a report on Wednesday, February 28th. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Thursday, January 11th. Finally, Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target 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.