American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,920 shares of the company’s stock after buying an additional 3,865 shares during the quarter. Principle Wealth Partners LLC’s holdings in American Electric Power were worth $3,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of American Electric Power in the 3rd quarter valued at $33,000. Newbridge Financial Services Group Inc. purchased a new stake in American Electric Power during the fourth quarter worth $35,000. Reston Wealth Management LLC acquired a new stake in American Electric Power during the third quarter valued at $48,000. Finally, Decker Retirement Planning Inc. purchased a new position in American Electric Power in the fourth quarter valued at $49,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $100.83 on Tuesday. The stock has a market capitalization of $53.65 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 52 week low of $76.31 and a 52 week high of $105.18. The firm has a 50-day simple moving average of $95.11 and a 200-day simple moving average of $97.79. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 yield of 3.69%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their target price 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. UBS Group increased their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Barclays dropped their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average 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.