Schmidt P J Investment Management Inc. Lowers Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Schmidt P J Investment Management Inc. decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,212 shares of the company’s stock after selling 300 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in American Electric Power were worth $204,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Czech National Bank raised its stake in American Electric Power by 7.9% during the 3rd quarter. Czech National Bank now owns 108,398 shares of the company’s stock worth $11,122,000 after acquiring an additional 7,950 shares during the period. Chesley Taft & Associates LLC bought a new stake in shares of American Electric Power during the 3rd quarter valued at $261,000. Atomi Financial Group Inc. lifted its stake in shares of American Electric Power by 26.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 8,664 shares of the company’s stock valued at $889,000 after buying an additional 1,836 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in American Electric Power in the 3rd quarter worth $50,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in American Electric Power by 20.5% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,479 shares of the company’s stock worth $357,000 after buying an additional 591 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $99.39 on Thursday. 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 business’s 50 day moving average price is $95.10 and its 200-day moving average price is $97.67. The company has a market cap of $52.89 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.79 and a beta of 0.58. 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 declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.74%. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AEP. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. BMO Capital Markets reduced their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.00.

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.