Parkside Financial Bank & Trust Trims Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Parkside Financial Bank & Trust decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,978 shares of the company’s stock after selling 284 shares during the period. Parkside Financial Bank & Trust’s holdings in American Electric Power were worth $161,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Foster & Motley Inc. purchased a new position in American Electric Power during the fourth quarter valued at approximately $219,000. RWA Wealth Partners LLC grew its stake in American Electric Power by 227.8% during the fourth quarter. RWA Wealth Partners LLC now owns 16,093 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,184 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in American Electric Power by 44.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 4,776 shares of the company’s stock valued at $388,000 after acquiring an additional 1,462 shares in the last quarter. OLD National Bancorp IN grew its stake in American Electric Power by 435.0% during the fourth quarter. OLD National Bancorp IN now owns 81,301 shares of the company’s stock valued at $6,603,000 after acquiring an additional 66,104 shares in the last quarter. Finally, Brendel Financial Advisors LLC purchased a new position in American Electric Power during the fourth quarter valued at approximately $307,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEP. BMO Capital Markets boosted their price objective on shares of American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Scotiabank cut their price target on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating for the company in a research note on Monday. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Thursday, January 11th. Cfra reissued a “buy” rating and issued a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Finally, StockNews.com cut shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $86.08.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $86.37 on Thursday. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $94.73. The stock has a market capitalization of $45.48 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. The company has a fifty day moving average of $83.34 and a 200-day moving average of $80.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the company posted $1.05 EPS. American Electric Power’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts expect that American Electric Power Company, Inc. will post 5.55 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.08%. American Electric Power’s dividend payout ratio (DPR) is 82.82%.

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.