Matrix Asset Advisors Inc. NY Decreases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Matrix Asset Advisors Inc. NY lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 229,614 shares of the company’s stock after selling 366 shares during the period. American Electric Power accounts for approximately 2.3% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 16th biggest position. Matrix Asset Advisors Inc. NY’s holdings in American Electric Power were worth $21,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEP. Foundations Investment Advisors LLC boosted its stake in American Electric Power by 8.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 7,541 shares of the company’s stock worth $695,000 after purchasing an additional 587 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in American Electric Power by 55.3% during the fourth quarter. Parsons Capital Management Inc. RI now owns 7,864 shares of the company’s stock worth $725,000 after acquiring an additional 2,800 shares during the last quarter. Summit Financial Strategies Inc. boosted its position in American Electric Power by 6.9% during the fourth quarter. Summit Financial Strategies Inc. now owns 5,270 shares of the company’s stock worth $486,000 after acquiring an additional 342 shares during the last quarter. Pacer Advisors Inc. grew its stake in American Electric Power by 34.4% during the 4th quarter. Pacer Advisors Inc. now owns 87,692 shares of the company’s stock valued at $8,088,000 after acquiring an additional 22,429 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in American Electric Power by 28.9% in the 4th quarter. Blue Trust Inc. now owns 9,165 shares of the company’s stock valued at $845,000 after acquiring an additional 2,056 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 4.5 %

Shares of NASDAQ AEP opened at $102.63 on Tuesday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The business’s 50 day moving average is $94.99 and its two-hundred day moving average is $97.41. The firm has a market cap of $54.61 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.77 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Evercore ISI dropped their price target on 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. Barclays dropped their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. BMO Capital Markets lowered their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley cut 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 research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.00.

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.