Clarity Financial LLC Decreases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Clarity Financial LLC reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,277 shares of the company’s stock after selling 348 shares during the quarter. Clarity Financial LLC’s holdings in American Electric Power were worth $579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted 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 worth $4,773,000 after buying an additional 714 shares during the last quarter. NewEdge Advisors LLC raised its position in American Electric Power by 5.4% in the second quarter. NewEdge Advisors LLC now owns 25,561 shares of the company’s stock worth $2,243,000 after acquiring an additional 1,317 shares during the period. EP Wealth Advisors LLC boosted its stake in American Electric Power by 10.9% in the second quarter. EP Wealth Advisors LLC now owns 9,826 shares of the company’s stock valued at $862,000 after acquiring an additional 969 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of American Electric Power during the 2nd quarter valued at approximately $12,671,000. Finally, Heritage Wealth Management Inc. purchased a new stake in shares of American Electric Power during the 2nd quarter worth approximately $361,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $98.03 on Friday. The company has a 50 day moving average of $95.09 and a 200 day moving average of $97.47. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $52.16 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month 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. Stockholders of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. American Electric Power’s payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEP. BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Evercore ISI reduced their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.