C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,249 shares of the company’s stock after selling 230 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in American Electric Power were worth $300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the third quarter valued at about $33,000. Kestra Investment Management LLC purchased a new position in American Electric Power in the fourth quarter valued at about $35,000. Newbridge Financial Services Group Inc. purchased a new position in American Electric Power in the fourth quarter valued at about $35,000. Finally, Reston Wealth Management LLC purchased a new position in American Electric Power in the third quarter valued at about $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AEP. 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 report on Tuesday, November 26th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the company from $98.00 to $104.00 in a research note on Monday, January 13th. BMO Capital Markets cut their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, UBS Group upped their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Up 1.2 %

Shares of American Electric Power stock opened at $104.35 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The business’s 50 day simple moving average is $96.26 and its 200-day simple moving average is $98.04. The stock has a market capitalization of $55.64 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.89 and a beta of 0.58. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $105.18.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the previous year, the business posted $1.23 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

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.