Clarity Financial LLC Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Clarity Financial LLC cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,277 shares of the company’s stock after selling 348 shares during the period. Clarity Financial LLC’s holdings in American Electric Power were worth $579,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AEP. Crews Bank & Trust bought a new position in American Electric Power during the fourth quarter valued at approximately $75,000. OLD National Bancorp IN lifted its holdings in shares of American Electric Power by 3.0% in the 4th quarter. OLD National Bancorp IN now owns 128,654 shares of the company’s stock worth $11,866,000 after acquiring an additional 3,791 shares during the last quarter. Allen Capital Group LLC boosted its stake in shares of American Electric Power by 231.8% in the 4th quarter. Allen Capital Group LLC now owns 30,613 shares of the company’s stock valued at $2,823,000 after purchasing an additional 21,388 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of American Electric Power by 5.3% during the 4th quarter. Forsta AP Fonden now owns 114,200 shares of the company’s stock valued at $10,533,000 after purchasing an additional 5,700 shares during the last quarter. Finally, R Squared Ltd purchased a new position in American Electric Power in the 4th quarter worth $115,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AEP. Evercore ISI cut their price target on shares of 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. BMO Capital Markets dropped their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Performance

Shares of AEP stock opened at $98.03 on Friday. The company’s fifty day moving average price is $95.09 and its 200-day moving average price is $97.47. The stock has a market cap of $52.16 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 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.