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

Stonegate Investment Group LLC decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in American Electric Power during the third quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth about $48,000. Friedenthal Financial bought a new position in American Electric Power in the 3rd quarter valued at about $50,000. Finally, Future Financial Wealth Managment LLC acquired a new position in American Electric Power during the 3rd quarter valued at about $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 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 lifted their price objective for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Performance

Shares of AEP opened at $100.00 on Wednesday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock’s fifty day moving average price is $94.99 and its two-hundred day moving average price is $97.41. The firm has a market cap of $53.21 billion, a PE ratio of 20.04, a PEG ratio of 2.77 and a beta of 0.56.

American Electric Power Announces Dividend

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