Strategic Financial Concepts LLC Takes $1.74 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Strategic Financial Concepts LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,821 shares of the company’s stock, valued at approximately $1,736,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its position in shares of American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after purchasing an additional 3,288 shares during the period. Secure Asset Management LLC raised its holdings in American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after acquiring an additional 4,370 shares during the period. Grove Bank & Trust lifted its position in shares of American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after acquiring an additional 5,771 shares in the last quarter. J2 Capital Management Inc bought a new position in shares of American Electric Power in the fourth quarter worth $419,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after acquiring an additional 19,081 shares during the period. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Up 0.5 %

Shares of NASDAQ AEP opened at $100.83 on Tuesday. The stock has a market capitalization of $53.65 billion, a P/E ratio of 20.21, a PEG ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a one year low of $76.31 and a one year high of $105.18. The firm’s 50 day simple moving average is $95.11 and its two-hundred day simple moving average is $97.79. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Ratings Changes

AEP has been the topic of a number of recent research reports. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company decreased 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 report on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.