KMG Fiduciary Partners LLC Increases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

KMG Fiduciary Partners LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,208 shares of the company’s stock after purchasing an additional 2,452 shares during the period. KMG Fiduciary Partners LLC’s holdings in American Electric Power were worth $1,956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth approximately $48,000. Decker Retirement Planning Inc. purchased a new position in shares of American Electric Power during the 4th quarter worth approximately $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AEP. Wells Fargo & Company reduced their target price 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. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the stock from $98.00 to $104.00 in a report on Monday. Morgan Stanley cut their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Price Performance

NASDAQ AEP opened at $96.82 on Friday. The business’s fifty day moving average price is $94.51 and its 200-day moving average price is $96.77. The stock has a market capitalization of $51.52 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.58 and a beta of 0.56. 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.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

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.