MKT Advisors LLC Cuts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

MKT Advisors LLC lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,809 shares of the company’s stock after selling 298 shares during the period. MKT Advisors LLC’s holdings in American Electric Power were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in American Electric Power by 10.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock worth $2,346,000 after purchasing an additional 2,593 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of American Electric Power in the second quarter worth $19,852,000. AXA S.A. raised its stake in shares of American Electric Power by 8.2% in the 2nd quarter. AXA S.A. now owns 34,500 shares of the company’s stock valued at $3,027,000 after acquiring an additional 2,610 shares during the period. AQR Capital Management LLC raised its stake in shares of American Electric Power by 37.1% in the 2nd quarter. AQR Capital Management LLC now owns 189,119 shares of the company’s stock valued at $16,593,000 after acquiring an additional 51,217 shares during the period. Finally, Daymark Wealth Partners LLC acquired a new position in shares of American Electric Power during the 2nd quarter valued at $248,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AEP shares. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday. Evercore ISI decreased their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Trading Up 0.7 %

NASDAQ:AEP opened at $98.18 on Friday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The business has a fifty day moving average of $94.87 and a 200-day moving average of $97.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock has a market cap of $52.24 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.77 and a beta of 0.56.

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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 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.