McGlone Suttner Wealth Management Inc. Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

McGlone Suttner Wealth Management Inc. lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,735 shares of the company’s stock after selling 666 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in American Electric Power were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Grove Bank & Trust grew its position in shares of American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc acquired a new stake in shares of American Electric Power during the fourth quarter valued at $419,000. Principal Financial Group Inc. increased its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after purchasing an additional 19,081 shares in the last quarter. New England Asset Management Inc. acquired a new position in American Electric Power in the 3rd quarter valued at about $3,404,000. Finally, ING Groep NV boosted its stake in shares of American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AEP shares. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

Shares of AEP stock opened at $97.47 on Friday. 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 company has a market cap of $51.87 billion, a PE ratio of 19.53, a P/E/G ratio of 2.78 and a beta of 0.56. The company’s fifty day simple moving average is $94.83 and its 200-day simple moving average is $97.12. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Dividend Announcement

The business also recently announced 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. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. 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.