Granite Group Advisors LLC Sells 621 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Granite Group Advisors LLC decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,033 shares of the company’s stock after selling 621 shares during the period. American Electric Power accounts for about 1.6% of Granite Group Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Granite Group Advisors LLC’s holdings in American Electric Power were worth $2,493,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in shares of American Electric Power by 10.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock valued at $2,346,000 after acquiring an additional 2,593 shares during the period. AXA S.A. lifted its stake in American Electric Power by 8.2% in the 2nd quarter. AXA S.A. now owns 34,500 shares of the company’s stock valued at $3,027,000 after buying an additional 2,610 shares in the last quarter. AQR Capital Management LLC lifted its stake in American Electric Power by 37.1% in the 2nd quarter. AQR Capital Management LLC now owns 189,119 shares of the company’s stock valued at $16,593,000 after buying an additional 51,217 shares in the last quarter. Daymark Wealth Partners LLC purchased a new position in American Electric Power in the 2nd quarter valued at about $248,000. Finally, MBB Public Markets I LLC purchased a new position in American Electric Power in the 2nd quarter worth approximately $3,264,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.7 %

Shares of American Electric Power stock opened at $98.18 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company’s 50-day simple moving average is $94.87 and its 200-day simple moving average is $97.26. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market cap of $52.24 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given 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 dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research reports. 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. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. BMO Capital Markets decreased their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. One 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 stock. According to MarketBeat, the stock presently 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.