KMG Fiduciary Partners LLC Acquires 2,452 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

KMG Fiduciary Partners LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,208 shares of the company’s stock after buying an additional 2,452 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in American Electric Power were worth $1,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the third quarter valued at $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power in the third quarter valued at $48,000. Friedenthal Financial purchased a new position in shares of American Electric Power in the third quarter valued at $50,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power in the third quarter valued at $50,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.8 %

Shares of AEP stock opened at $96.82 on Friday. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month 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 50-day moving average price of $94.51 and a two-hundred day moving average price of $96.77. The firm has a market cap of $51.52 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

Analyst Upgrades and Downgrades

AEP has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on 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. 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 upgraded American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the company from $98.00 to $104.00 in a research report on Monday. Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus target price 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.