Fortitude Family Office LLC Reduces Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Fortitude Family Office LLC trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,299 shares of the company’s stock after selling 144 shares during the period. Fortitude Family Office LLC’s holdings in American Electric Power were worth $120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power in the third quarter valued at about $25,000. HHM Wealth Advisors LLC increased its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power during the 3rd quarter worth approximately $48,000. Finally, Friedenthal Financial acquired a new stake in American Electric Power during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 2.0 %

AEP stock opened at $92.26 on Friday. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week 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 firm has a 50-day simple moving average of $94.79 and a 200-day simple moving average of $96.52. The stock has a market capitalization of $49.09 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AEP. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. BMO Capital Markets increased their price target on American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $97.13.

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.