Granite Group Advisors LLC Has $2.49 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Granite Group Advisors LLC reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,033 shares of the company’s stock after selling 621 shares during the quarter. American Electric Power comprises 1.6% of Granite Group Advisors LLC’s portfolio, making the stock its 11th biggest position. Granite Group Advisors LLC’s holdings in American Electric Power were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its stake in American Electric Power by 10.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock valued at $2,346,000 after acquiring an additional 2,593 shares in the last quarter. AXA S.A. grew its holdings in American Electric Power by 8.2% in the 2nd quarter. AXA S.A. now owns 34,500 shares of the company’s stock valued at $3,027,000 after buying an additional 2,610 shares in the last quarter. AQR Capital Management LLC grew its holdings in American Electric Power by 37.1% in the 2nd quarter. AQR Capital Management LLC now owns 189,119 shares of the company’s stock valued at $16,593,000 after buying an additional 51,217 shares in the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of American Electric Power during the 2nd quarter worth $248,000. Finally, MBB Public Markets I LLC acquired a new stake in American Electric Power in the second quarter valued at about $3,264,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $98.18 on Monday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The stock’s fifty day moving average is $94.87 and its 200 day moving average is $97.26. The stock has a market cap of $52.24 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AEP shares. 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 research report on Thursday, December 12th. Morgan Stanley dropped their price target 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. UBS Group boosted their target price 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. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report 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 company’s stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Profile

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.