Altus Wealth Group LLC Reduces Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Altus Wealth Group LLC trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,455 shares of the company’s stock after selling 238 shares during the quarter. Altus Wealth Group LLC’s holdings in American Electric Power were worth $1,702,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AEP. Glenview Trust co grew its holdings in shares of American Electric Power by 148.5% during the fourth quarter. Glenview Trust co now owns 12,566 shares of the company’s stock worth $1,159,000 after purchasing an additional 7,509 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of American Electric Power by 7.4% in the 4th quarter. Harbour Investments Inc. now owns 9,917 shares of the company’s stock valued at $915,000 after purchasing an additional 687 shares during the period. Corient Private Wealth LLC grew its stake in American Electric Power by 201.6% during the 4th quarter. Corient Private Wealth LLC now owns 153,142 shares of the company’s stock worth $14,124,000 after buying an additional 303,916 shares during the last quarter. Ninepoint Partners LP increased its position in American Electric Power by 27.5% during the fourth quarter. Ninepoint Partners LP now owns 13,204 shares of the company’s stock worth $1,218,000 after buying an additional 2,848 shares during the period. Finally, one8zero8 LLC purchased a new stake in American Electric Power in the fourth quarter valued at approximately $406,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $105.56 on Friday. The company’s fifty day moving average is $100.49 and its two-hundred day moving average is $98.87. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a market capitalization of $56.29 billion, a P/E ratio of 18.85, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $109.52.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the company earned $1.23 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.52%. American Electric Power’s dividend payout ratio is presently 66.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Barclays reduced their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their target price for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Finally, Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $98.46.

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.