Novare Capital Management LLC Sells 108 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Novare Capital Management LLC lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,917 shares of the company’s stock after selling 108 shares during the period. Novare Capital Management LLC’s holdings in American Electric Power were worth $269,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XML Financial LLC grew its stake in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the period. PSI Advisors LLC boosted its holdings in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after buying an additional 107 shares in the last quarter. Garrison Asset Management LLC boosted its holdings in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY grew its position in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the period. Finally, First United Bank & Trust increased its stake in American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP opened at $98.18 on Monday. The firm has a market cap of $52.24 billion, a P/E ratio of 19.68, a PEG ratio of 2.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm has a 50-day moving average of $94.87 and a 200 day moving average of $97.26.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. American Electric Power’s payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research reports. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Wells Fargo & Company lowered 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 reduced their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.00.

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.