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

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

Several other institutional investors have also recently made changes to their positions in the stock. Chicago Capital LLC raised its stake in American Electric Power by 6.2% during the 4th quarter. Chicago Capital LLC now owns 7,055 shares of the company’s stock worth $651,000 after acquiring an additional 409 shares during the period. Greenleaf Trust increased its stake in shares of American Electric Power by 3.9% in the fourth quarter. Greenleaf Trust now owns 9,746 shares of the company’s stock worth $899,000 after purchasing an additional 369 shares in the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at $458,000. DAVENPORT & Co LLC lifted its stake in shares of American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after buying an additional 3,288 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its holdings in American Electric Power by 15.3% in the 4th quarter. Tritonpoint Wealth LLC now owns 3,460 shares of the company’s stock worth $319,000 after buying an additional 460 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. UBS Group upped their price target 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. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays dropped their target price 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. Finally, Evercore ISI decreased their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. One 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’s stock. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Performance

NASDAQ:AEP opened at $99.36 on Tuesday. The firm has a market capitalization of $52.87 billion, a PE ratio of 19.91, a PEG ratio of 2.79 and a beta of 0.56. The stock’s fifty day moving average is $95.11 and its 200 day moving average is $97.60. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Dividend Announcement

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