Foster & Motley Inc. Cuts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Foster & Motley Inc. reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,265 shares of the company’s stock after selling 234 shares during the period. Foster & Motley Inc.’s holdings in American Electric Power were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Electric Power by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,402 shares of the company’s stock valued at $4,773,000 after acquiring an additional 714 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of American Electric Power by 5.4% in the 2nd quarter. NewEdge Advisors LLC now owns 25,561 shares of the company’s stock valued at $2,243,000 after purchasing an additional 1,317 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of American Electric Power in the 2nd quarter valued at approximately $12,671,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of American Electric Power in the 2nd quarter worth approximately $4,246,000. Finally, Trust Co. of Toledo NA OH increased its position in shares of American Electric Power by 39.0% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 11,522 shares of the company’s stock valued at $1,182,000 after purchasing an additional 3,232 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

Shares of AEP stock opened at $98.36 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The business has a fifty day moving average of $95.09 and a 200 day moving average of $97.48. The firm has a market capitalization of $52.34 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year 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. Investors of record on Monday, February 10th will be given a $0.93 dividend. 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 3.78%. American Electric Power’s dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley dropped their price target on shares of 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. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. restated 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. Finally, Barclays reduced their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.00.

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.