Raleigh Capital Management Inc. Lowers Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Raleigh Capital Management Inc. lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,983 shares of the company’s stock after selling 506 shares during the period. Raleigh Capital Management Inc.’s holdings in American Electric Power were worth $1,382,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its stake in American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after acquiring an additional 5,771 shares during the last quarter. J2 Capital Management Inc purchased a new position in shares of American Electric Power in the 4th quarter worth about $419,000. Principal Financial Group Inc. increased its position in shares of 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. New England Asset Management Inc. purchased a new position in shares of American Electric Power during the 3rd quarter valued at about $3,404,000. Finally, ING Groep NV lifted its position in American Electric Power by 244.3% in the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after buying an additional 208,974 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the subject of a number of research reports. Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

NASDAQ AEP opened at $97.49 on Thursday. The stock has a market capitalization of $51.88 billion, a PE ratio of 19.54, a P/E/G ratio of 2.78 and a beta of 0.56. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business has a 50 day simple moving average of $94.76 and a two-hundred day simple moving average of $97.11. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.82%. 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.