Avity Investment Management Inc. Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Avity Investment Management Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,524 shares of the company’s stock after acquiring an additional 150 shares during the period. Avity Investment Management Inc.’s holdings in American Electric Power were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AEP. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the third quarter valued at about $33,000. Reston Wealth Management LLC bought a new stake in shares of American Electric Power in the third quarter worth about $48,000. Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power in the third quarter worth about $50,000. Finally, Friedenthal Financial bought a new position in American Electric Power during the third quarter valued at approximately $50,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AEP. Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. 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 note on Thursday, December 12th. BMO Capital Markets reduced their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Finally, Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the stock from $98.00 to $104.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Price Performance

NASDAQ:AEP opened at $94.50 on Wednesday. The stock’s fifty day moving average is $94.52 and its two-hundred day moving average is $96.78. The company has a market capitalization of $50.29 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.70 and a beta of 0.56. 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 quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.94%. The ex-dividend date was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

About American Electric Power

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.