Matrix Asset Advisors Inc. NY Decreases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Matrix Asset Advisors Inc. NY decreased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,614 shares of the company’s stock after selling 366 shares during the quarter. American Electric Power makes up 2.3% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 16th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in American Electric Power were worth $21,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AEP. Foundations Investment Advisors LLC grew its position in shares of American Electric Power by 8.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,541 shares of the company’s stock worth $695,000 after buying an additional 587 shares in the last quarter. Parsons Capital Management Inc. RI lifted its stake in American Electric Power by 55.3% in the fourth quarter. Parsons Capital Management Inc. RI now owns 7,864 shares of the company’s stock worth $725,000 after acquiring an additional 2,800 shares during the last quarter. Summit Financial Strategies Inc. lifted its stake in American Electric Power by 6.9% in the fourth quarter. Summit Financial Strategies Inc. now owns 5,270 shares of the company’s stock worth $486,000 after acquiring an additional 342 shares during the last quarter. Pacer Advisors Inc. grew its holdings in American Electric Power by 34.4% during the 4th quarter. Pacer Advisors Inc. now owns 87,692 shares of the company’s stock worth $8,088,000 after acquiring an additional 22,429 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of American Electric Power by 28.9% in the 4th quarter. Blue Trust Inc. now owns 9,165 shares of the company’s stock valued at $845,000 after purchasing an additional 2,056 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI decreased their price objective 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 upped their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Barclays cut their price objective on shares of 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. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $102.63 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a 50-day simple moving average of $94.99 and a 200-day simple moving average of $97.41. The stock has a market capitalization of $54.61 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.62%. American Electric Power’s payout ratio is 74.55%.

American Electric Power Company 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.