Princeton Global Asset Management LLC Sells 214 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Princeton Global Asset Management LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,257 shares of the company’s stock after selling 214 shares during the quarter. Princeton Global Asset Management LLC’s holdings in American Electric Power were worth $116,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Secure Asset Management LLC boosted its position in American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after buying an additional 4,370 shares during the period. Grove Bank & Trust boosted its holdings in shares of American Electric Power by 436.9% during the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after purchasing an additional 5,771 shares during the period. J2 Capital Management Inc bought a new stake in shares of American Electric Power in the fourth quarter worth about $419,000. Principal Financial Group Inc. raised its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the last quarter. Finally, New England Asset Management Inc. bought a new position in American Electric Power during the 3rd quarter valued at approximately $3,404,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Evercore ISI cut 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 research note on Thursday, November 7th. Barclays decreased their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Up 1.0 %

American Electric Power stock opened at $99.36 on Tuesday. The business’s fifty day simple moving average is $95.11 and its two-hundred day simple moving average is $97.60. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $52.87 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.79 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

About American Electric Power

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.