My Legacy Advisors LLC Sells 115 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

My Legacy Advisors LLC cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,395 shares of the company’s stock after selling 115 shares during the quarter. My Legacy Advisors LLC’s holdings in American Electric Power were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in American Electric Power during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the third quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new position in American Electric Power during the third quarter valued at approximately $48,000. Friedenthal Financial bought a new stake in American Electric Power during the third quarter worth $50,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BMO Capital Markets reduced 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 lifted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. 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 research note on Thursday, November 7th. Finally, Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and raised their price objective for the company from $98.00 to $104.00 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

AEP stock opened at $97.25 on Friday. The firm has a market cap of $51.75 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. 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 50-day moving average price of $94.52 and a 200-day moving average price of $96.84. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a $0.93 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.83%. American Electric Power’s payout ratio is 74.55%.

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.