Honkamp Krueger Financial Services Inc. lowered its stake in American Electric Power Company Inc (NYSE:AEP) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,021 shares of the utilities provider’s stock after selling 1,587 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in American Electric Power were worth $517,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AEP. Chicago Partners Investment Group LLC purchased a new position in shares of American Electric Power in the third quarter worth $113,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of American Electric Power in the third quarter worth $140,000. TCI Wealth Advisors Inc. increased its stake in shares of American Electric Power by 54.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock worth $159,000 after acquiring an additional 797 shares during the period. Gradient Investments LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $167,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $182,000. 71.69% of the stock is owned by institutional investors and hedge funds.
American Electric Power Company Inc (AEP) traded up $0.55 during mid-day trading on Wednesday, reaching $66.59. 3,115,384 shares of the company traded hands, compared to its average volume of 3,690,000. The firm has a market capitalization of $32,760.00, a price-to-earnings ratio of 17.39, a PEG ratio of 3.15 and a beta of 0.22. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 1.06. American Electric Power Company Inc has a 52 week low of $63.32 and a 52 week high of $78.07.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.48 annualized dividend and a yield of 3.72%. American Electric Power’s dividend payout ratio is presently 64.75%.
A number of analysts have recently weighed in on AEP shares. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective on the stock in a research note on Wednesday, December 13th. Guggenheim lowered shares of American Electric Power from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. American Electric Power presently has a consensus rating of “Buy” and an average price target of $74.36.
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American Electric Power Company Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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