Cornell Pochily Investment Advisors Inc. Sells 303 Shares of 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 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,855 shares of the company’s stock after selling 303 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in American Electric Power were worth $498,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC boosted its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. Bank of Stockton grew its holdings in American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares during the period. Richardson Financial Services Inc. raised its stake in shares of American Electric Power by 3.9% in the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after buying an additional 115 shares during the period. Finally, Addison Advisors LLC raised its stake in shares of American Electric Power by 14.8% in the second quarter. Addison Advisors LLC now owns 902 shares of the company’s stock valued at $79,000 after buying an additional 116 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on AEP. Morgan Stanley lifted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays raised their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets boosted their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.79.

American Electric Power Stock Performance

NASDAQ AEP opened at $98.79 on Tuesday. The firm has a market cap of $52.07 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.79 and a beta of 0.54. The company has a 50-day simple moving average of $100.25 and a two-hundred day simple moving average of $92.97. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.56%. American Electric Power’s dividend payout ratio is currently 65.31%.

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.