GSB Wealth Management LLC Has $388,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

GSB Wealth Management LLC lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 41.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,270 shares of the company’s stock after selling 3,085 shares during the period. GSB Wealth Management LLC’s holdings in American Electric Power were worth $388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Titleist Asset Management LLC acquired a new stake in shares of American Electric Power in the 1st quarter valued at $644,000. JPMorgan Chase & Co. boosted its stake in shares of American Electric Power by 33.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,711,204 shares of the company’s stock valued at $246,694,000 after purchasing an additional 677,962 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of American Electric Power by 22.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 27,672 shares of the company’s stock valued at $2,518,000 after purchasing an additional 5,090 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of American Electric Power by 26.0% in the 1st quarter. Advisory Services Network LLC now owns 14,884 shares of the company’s stock valued at $1,354,000 after purchasing an additional 3,072 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in American Electric Power by 3.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 222,557 shares of the company’s stock worth $20,249,000 after buying an additional 7,269 shares in the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AEP shares. BMO Capital Markets reduced their price target on shares of American Electric Power from $103.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Royal Bank of Canada reduced their price target on shares of American Electric Power from $103.00 to $89.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 6th. Guggenheim reduced their price target on shares of American Electric Power from $105.00 to $96.00 in a research report on Friday, July 7th. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a research report on Wednesday. Finally, Barclays initiated coverage on shares of American Electric Power in a research report on Wednesday, August 23rd. They set an “overweight” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.97.

American Electric Power Price Performance

Shares of AEP opened at $79.33 on Thursday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.48 and a current ratio of 0.61. The stock has a 50 day simple moving average of $81.96 and a 200 day simple moving average of $86.06. American Electric Power Company, Inc. has a 52-week low of $75.47 and a 52-week high of $103.90. The firm has a market capitalization of $40.87 billion, a PE ratio of 20.55, a P/E/G ratio of 2.62 and a beta of 0.46.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). American Electric Power had a net margin of 10.20% and a return on equity of 10.44%. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. American Electric Power’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Wednesday, August 9th. American Electric Power’s payout ratio is presently 86.01%.

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.