Meritage Portfolio Management Cuts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Meritage Portfolio Management reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,369 shares of the company’s stock after selling 480 shares during the period. Meritage Portfolio Management’s holdings in American Electric Power were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the third quarter worth $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power during the third quarter worth $48,000. Decker Retirement Planning Inc. purchased a new position in American Electric Power in the fourth quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in American Electric Power in the third quarter valued at $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.8 %

Shares of American Electric Power stock opened at $100.17 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. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a market capitalization of $53.30 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.79 and a beta of 0.58. The business has a 50 day moving average price of $95.09 and a 200 day moving average price of $97.68.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 annualized dividend and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Ratings Changes

AEP has been the subject of a number of recent research reports. UBS Group lifted their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. BMO Capital Markets cut their target price on 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. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company lowered their price objective on 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.