Hodges Capital Management Inc. Sells 2,178 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Hodges Capital Management Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,496 shares of the company’s stock after selling 2,178 shares during the period. Hodges Capital Management Inc.’s holdings in American Electric Power were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Chicago Capital LLC increased its holdings in shares of American Electric Power by 6.2% during the fourth quarter. Chicago Capital LLC now owns 7,055 shares of the company’s stock valued at $651,000 after acquiring an additional 409 shares in the last quarter. Greenleaf Trust grew its position in American Electric Power by 3.9% during the 4th quarter. Greenleaf Trust now owns 9,746 shares of the company’s stock worth $899,000 after purchasing an additional 369 shares during the last quarter. Avantra Family Wealth Inc. acquired a new position in American Electric Power during the 4th quarter valued at approximately $458,000. DAVENPORT & Co LLC lifted its stake in shares of American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock worth $5,310,000 after buying an additional 3,288 shares during the period. Finally, Tritonpoint Wealth LLC grew its holdings in shares of American Electric Power by 15.3% during the fourth quarter. Tritonpoint Wealth LLC now owns 3,460 shares of the company’s stock valued at $319,000 after buying an additional 460 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AEP shares. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Barclays dropped their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. BMO Capital Markets dropped their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Up 1.0 %

Shares of AEP opened at $99.36 on Tuesday. The firm has a market cap of $52.87 billion, a P/E ratio of 19.91, a PEG ratio of 2.79 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock’s 50 day moving average is $95.11 and its two-hundred day moving average is $97.60. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is presently 74.55%.

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.