Advisory Resource Group Sells 1,926 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Advisory Resource Group reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,955 shares of the company’s stock after selling 1,926 shares during the quarter. Advisory Resource Group’s holdings in American Electric Power were worth $365,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.9% in the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after buying an additional 352,588 shares during the last quarter. FMR LLC boosted its position in American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $466,191,000 after buying an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEP. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. BMO Capital Markets dropped their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price target for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Barclays decreased their target price on shares of 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Up 0.2 %

Shares of NASDAQ AEP opened at $100.35 on Friday. The company has a market cap of $53.40 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.84 and a beta of 0.58. 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 Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock has a 50-day moving average price of $95.11 and a two-hundred day moving average price of $97.74.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is 74.55%.

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.