Passumpsic Savings Bank Sells 211 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Passumpsic Savings Bank cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,701 shares of the company’s stock after selling 211 shares during the period. Passumpsic Savings Bank’s holdings in American Electric Power were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. XML Financial LLC increased its position in American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the period. PSI Advisors LLC increased its position in American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after buying an additional 107 shares during the period. Garrison Asset Management LLC increased its position in American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the period. Roanoke Asset Management Corp NY increased its position in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the period. Finally, Folger Nolan Fleming Douglas Capital Management Inc. increased its position in American Electric Power by 3.7% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock worth $286,000 after buying an additional 112 shares during the period. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEP. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets lowered their price objective 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. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Morgan Stanley reduced 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, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.33 on Friday. The stock’s 50-day simple moving average is $96.51 and its 200 day simple moving average is $98.09. The firm has a market capitalization of $56.16 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $105.73.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate 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 last year, the firm earned $1.23 EPS. 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 firm also recently disclosed 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. This represents a $3.72 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) 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.