Commonwealth Financial Services LLC Decreases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Commonwealth Financial Services LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,285 shares of the company’s stock after selling 364 shares during the quarter. Commonwealth Financial Services LLC’s holdings in American Electric Power were worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes 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 acquired a new stake in American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new stake in American Electric Power during the third quarter worth about $48,000. Decker Retirement Planning Inc. acquired a new stake in American Electric Power during the fourth quarter worth about $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in American Electric Power during the third quarter worth about $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.0 %

AEP opened at $99.36 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock has a market capitalization of $52.87 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.79 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. The business has a fifty day moving average price of $95.11 and a 200 day moving average price of $97.60.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEP. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, BMO Capital Markets decreased their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.