Alpha Omega Wealth Management LLC Sells 745 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Alpha Omega Wealth Management LLC reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,789 shares of the company’s stock after selling 745 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in American Electric Power were worth $3,394,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Latitude Advisors LLC bought a new position in shares of American Electric Power during the fourth quarter worth $204,000. Scissortail Wealth Management LLC bought a new position in shares of American Electric Power during the fourth quarter worth $363,000. Tyche Wealth Partners LLC bought a new position in shares of American Electric Power during the fourth quarter worth $422,000. Imprint Wealth LLC boosted its position in shares of American Electric Power by 4.7% during the fourth quarter. Imprint Wealth LLC now owns 8,800 shares of the company’s stock worth $713,000 after purchasing an additional 395 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of American Electric Power by 20.0% during the fourth quarter. SVB Wealth LLC now owns 8,891 shares of the company’s stock worth $722,000 after acquiring an additional 1,481 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock traded up $1.41 during trading on Wednesday, hitting $80.92. 891,846 shares of the stock were exchanged, compared to its average volume of 3,756,123. The stock has a market capitalization of $42.61 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. The company has a fifty day moving average price of $82.54 and a 200-day moving average price of $79.85. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $94.73. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 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 company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the company posted $1.05 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 9th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.35%. American Electric Power’s payout ratio is presently 82.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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 report on Tuesday, February 27th. UBS Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their price objective for the company from $86.00 to $83.00 in a research report on Monday, March 11th. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. Cfra reissued a “buy” rating and set a $92.00 price target (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Finally, StockNews.com cut shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.15.

About American Electric Power

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.