American Electric Power Company, Inc. (NASDAQ:AEP) is Slocum Gordon & Co LLP’s 6th Largest Position

Slocum Gordon & Co LLP reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 70,015 shares of the company’s stock after selling 1,885 shares during the quarter. American Electric Power accounts for approximately 5.3% of Slocum Gordon & Co LLP’s portfolio, making the stock its 6th largest holding. Slocum Gordon & Co LLP’s holdings in American Electric Power were worth $6,458,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in American Electric Power during the fourth quarter valued at $852,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of American Electric Power by 6.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,875 shares of the company’s stock valued at $6,537,000 after buying an additional 4,289 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of American Electric Power by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,322,204 shares of the company’s stock worth $121,947,000 after acquiring an additional 5,552 shares during the period. Strategic Financial Concepts LLC purchased a new stake in American Electric Power in the 4th quarter worth about $1,736,000. Finally, Telos Capital Management Inc. raised its stake in American Electric Power by 1.0% in the 4th quarter. Telos Capital Management Inc. now owns 61,398 shares of the company’s stock valued at $5,663,000 after acquiring an additional 604 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.8 %

Shares of NASDAQ AEP opened at $100.17 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 business has a 50-day moving average of $95.10 and a 200-day moving average of $97.70. The firm has a market capitalization of $53.30 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.79 and a beta of 0.58. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Announces Dividend

The business also recently declared 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEP. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays reduced their price target on 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, Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.