Fortitude Family Office LLC Decreases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Fortitude Family Office LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,299 shares of the company’s stock after selling 144 shares during the period. Fortitude Family Office LLC’s holdings in American Electric Power were worth $120,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in shares of American Electric Power by 4.3% during the 3rd 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 last quarter. Geode Capital Management LLC raised its stake in American Electric Power by 2.9% during the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after purchasing an additional 352,588 shares during the period. FMR LLC boosted its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after buying an additional 1,962,125 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 2.0 %

NASDAQ:AEP opened at $92.26 on Friday. The stock has a fifty day moving average price of $94.79 and a 200 day moving average price of $96.52. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The firm has a market cap of $49.09 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AEP shares. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of 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. Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Evercore ISI dropped their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.13.

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.