Slocum Gordon & Co LLP Trims Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Slocum Gordon & Co LLP lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 70,015 shares of the company’s stock after selling 1,885 shares during the quarter. American Electric Power accounts for 5.3% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 6th largest holding. Slocum Gordon & Co LLP’s holdings in American Electric Power were worth $6,458,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its stake in shares of American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares during the period. Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after acquiring an additional 1,962,125 shares during the last quarter. State Street Corp increased its position in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC raised its stake in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of American Electric Power during the third quarter valued at about $80,207,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AEP shares. Wells Fargo & Company reduced their price target 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. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Barclays reduced their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $100.17 on Friday. The company has a 50 day simple moving average of $95.10 and a two-hundred day simple moving average of $97.70. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a market capitalization of $53.30 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 2.79 and a beta of 0.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 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.