Ironwood Investment Counsel LLC Cuts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Ironwood Investment Counsel LLC lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,900 shares of the company’s stock after selling 416 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in American Electric Power were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the third quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power in the fourth quarter worth approximately $25,000. Fairway Wealth LLC purchased a new stake in American Electric Power in the fourth quarter worth approximately $32,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the third quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in American Electric Power in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AEP shares. BMO Capital Markets lowered their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the company from $98.00 to $104.00 in a report on Monday, January 13th. Finally, Morgan Stanley decreased their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average target price of $98.46.

American Electric Power Trading Up 1.3 %

NASDAQ AEP opened at $105.56 on Friday. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $109.52. The stock has a market cap of $56.29 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.97 and a beta of 0.50. The stock’s fifty day moving average price is $100.49 and its 200-day moving average price is $98.86. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates 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 in the previous year, the company earned $1.23 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.52%. American Electric Power’s payout ratio is 66.43%.

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.