PFG Investments LLC Lowers Position in American Electric Power Company, Inc. (NASDAQ:AEP)

PFG Investments LLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 25,314 shares of the company’s stock after selling 414 shares during the quarter. PFG Investments LLC’s holdings in American Electric Power were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power in the 3rd quarter valued at $33,000. Reston Wealth Management LLC acquired a new position in American Electric Power in the 3rd quarter valued at $48,000. Friedenthal Financial acquired a new position in American Electric Power in the 3rd quarter valued at $50,000. Finally, Future Financial Wealth Managment LLC acquired a new position in American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP stock opened at $98.18 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The firm has a market capitalization of $52.24 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56. The business’s 50-day moving average is $94.87 and its two-hundred day moving average is $97.26.

American Electric Power Announces Dividend

The firm 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 dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Barclays cut their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Finally, UBS Group raised their target price 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.