American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,391 shares of the company’s stock after selling 873 shares during the period. Dakota Wealth Management’s holdings in American Electric Power were worth $5,385,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. XML Financial LLC raised its holdings in shares of American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after purchasing an additional 106 shares in the last quarter. PSI Advisors LLC raised its holdings in shares of American Electric Power by 10.6% in the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after purchasing an additional 107 shares in the last quarter. Garrison Asset Management LLC raised its holdings in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY raised its holdings in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares in the last quarter. Finally, First United Bank & Trust raised its holdings in shares of American Electric Power by 17.1% in the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after purchasing an additional 112 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent analyst reports. Evercore ISI dropped 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 report on Thursday, November 7th. 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 report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Down 0.3 %

Shares of NASDAQ:AEP opened at $97.49 on Thursday. The company has a market cap of $51.88 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.76 and a beta of 0.56. The firm’s 50-day simple moving average is $94.68 and its 200-day simple moving average is $97.11. 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 Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

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. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 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.