State of Alaska Department of Revenue Sells 15,923 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

State of Alaska Department of Revenue lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 20.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,730 shares of the company’s stock after selling 15,923 shares during the period. State of Alaska Department of Revenue’s holdings in American Electric Power were worth $5,601,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AEP. Bleakley Financial Group LLC lifted its stake in American Electric Power by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 18,529 shares of the company’s stock worth $1,709,000 after acquiring an additional 977 shares during the period. YANKCOM Partnership bought a new stake in shares of American Electric Power in the 4th quarter valued at about $372,000. Centennial Wealth Advisory LLC lifted its position in shares of American Electric Power by 12.5% in the 4th quarter. Centennial Wealth Advisory LLC now owns 4,807 shares of the company’s stock worth $443,000 after purchasing an additional 535 shares during the period. NovaPoint Capital LLC boosted its stake in shares of American Electric Power by 6.9% during the fourth quarter. NovaPoint Capital LLC now owns 9,215 shares of the company’s stock valued at $850,000 after purchasing an additional 592 shares in the last quarter. Finally, Crewe Advisors LLC increased its holdings in American Electric Power by 21.2% during the fourth quarter. Crewe Advisors LLC now owns 708 shares of the company’s stock valued at $65,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets cut their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Morgan Stanley decreased their price target 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. Finally, Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Up 0.2 %

American Electric Power stock opened at $100.35 on Friday. The business’s 50-day simple moving average is $95.10 and its two-hundred day simple moving average is $97.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market cap of $53.40 billion, a PE ratio of 20.11, a PEG ratio of 2.79 and a beta of 0.58. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Dividend Announcement

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 given 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 of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 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.