Goelzer Investment Management Inc. Sells 1,584 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Goelzer Investment Management Inc. lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 78,187 shares of the company’s stock after selling 1,584 shares during the period. Goelzer Investment Management Inc.’s holdings in American Electric Power were worth $7,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power in the third quarter worth about $33,000. Reston Wealth Management LLC bought a new position in shares of American Electric Power in the third quarter valued at approximately $48,000. Decker Retirement Planning Inc. purchased a new position in American Electric Power during the fourth quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the 3rd quarter worth approximately $50,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the company from $98.00 to $104.00 in a report on Monday, January 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. UBS Group upped their target price 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. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets decreased their price objective on shares of 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 assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

American Electric Power stock opened at $98.18 on Friday. The firm has a fifty day simple moving average of $94.83 and a two-hundred day simple moving average of $97.12. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a market capitalization of $52.24 billion, a PE ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.79%. 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.