American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 19.7% during the fourth quarter, Holdings Channel reports. The fund owned 2,341 shares of the company’s stock after selling 573 shares during the quarter. Daymark Wealth Partners LLC’s holdings in American Electric Power were worth $216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. Grove Bank & Trust grew its holdings in American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the period. J2 Capital Management Inc acquired a new stake in shares of American Electric Power during the 4th quarter worth $419,000. Principal Financial Group Inc. raised its position in shares of American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares during the period. New England Asset Management Inc. acquired a new position in American Electric Power in the third quarter valued at $3,404,000. Finally, ING Groep NV grew its position in American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after acquiring an additional 208,974 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.7 %

AEP stock opened at $98.18 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a 50 day simple moving average of $94.83 and a 200-day simple moving average of $97.12. The company has a market capitalization of $52.24 billion, a P/E ratio of 19.68, a PEG ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AEP shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Evercore ISI cut their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday. One research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.00.

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.