Godsey & Gibb Inc. Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Godsey & Gibb Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 186,526 shares of the company’s stock after selling 2,549 shares during the period. Godsey & Gibb Inc.’s holdings in American Electric Power were worth $19,138,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares during the period. OLD National Bancorp IN lifted its stake in shares of American Electric Power by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 124,863 shares of the company’s stock worth $12,811,000 after acquiring an additional 4,374 shares during the period. Powers Advisory Group LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth $214,000. Chicago Capital LLC lifted its stake in shares of American Electric Power by 4.7% in the 3rd quarter. Chicago Capital LLC now owns 6,646 shares of the company’s stock worth $682,000 after acquiring an additional 301 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of American Electric Power in the 3rd quarter worth $50,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $100.69 on Monday. The company has a market cap of $53.08 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $72.01 and a 12 month high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company has a 50-day simple moving average of $100.43 and a 200-day simple moving average of $93.41.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.50%. American Electric Power’s dividend payout ratio is currently 65.31%.

Analysts Set New Price Targets

AEP has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank raised their price objective 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. Finally, BMO Capital Markets raised their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.43.

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.