Soltis Investment Advisors LLC Buys 23,829 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Soltis Investment Advisors LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 61.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,353 shares of the company’s stock after buying an additional 23,829 shares during the period. Soltis Investment Advisors LLC’s holdings in American Electric Power were worth $5,751,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC lifted its stake in 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 valued at $385,079,000 after acquiring an additional 1,962,125 shares during the period. State Street Corp grew its stake in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC grew its position in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the period. Finally, Zacks Investment Management purchased a new stake in American Electric Power during the third quarter valued at $80,207,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays reduced their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Up 0.2 %

Shares of AEP opened at $100.35 on Monday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $95.11 and a 200 day moving average of $97.77. The company has a market cap of $53.40 billion, a PE ratio of 20.11, a P/E/G ratio of 2.84 and a beta of 0.58.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio (DPR) 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.