Stonegate Investment Group LLC Sells 434 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Stonegate Investment Group LLC trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,415 shares of the company’s stock after selling 434 shares during the quarter. Stonegate Investment Group LLC’s holdings in American Electric Power were worth $592,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AEP. Perigon Wealth Management LLC increased its position in shares of American Electric Power by 1.1% during the fourth quarter. Perigon Wealth Management LLC now owns 13,241 shares of the company’s stock valued at $1,282,000 after buying an additional 138 shares during the period. Foundations Investment Advisors LLC grew its stake in American Electric Power by 8.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,541 shares of the company’s stock valued at $695,000 after acquiring an additional 587 shares in the last quarter. Parsons Capital Management Inc. RI increased its holdings in American Electric Power by 55.3% during the 4th quarter. Parsons Capital Management Inc. RI now owns 7,864 shares of the company’s stock worth $725,000 after acquiring an additional 2,800 shares during the period. Summit Financial Strategies Inc. lifted its stake in American Electric Power by 6.9% in the 4th quarter. Summit Financial Strategies Inc. now owns 5,270 shares of the company’s stock worth $486,000 after purchasing an additional 342 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in American Electric Power by 34.4% in the 4th quarter. Pacer Advisors Inc. now owns 87,692 shares of the company’s stock valued at $8,088,000 after purchasing an additional 22,429 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $100.00 on Wednesday. The stock has a market capitalization of $53.21 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The company has a fifty day moving average of $94.99 and a 200-day moving average of $97.41. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.72%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Morgan Stanley cut their price objective 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. Finally, Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.00.

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.