Bard Financial Services Inc. Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Bard Financial Services Inc. reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,530 shares of the company’s stock after selling 625 shares during the quarter. Bard Financial Services Inc.’s holdings in American Electric Power were worth $602,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc raised its stake in shares of American Electric Power by 0.9% during the second quarter. TD Asset Management Inc now owns 281,634 shares of the company’s stock worth $24,711,000 after acquiring an additional 2,606 shares in the last quarter. Private Advisor Group LLC lifted its stake in American Electric Power by 3.6% in the second quarter. Private Advisor Group LLC now owns 58,311 shares of the company’s stock worth $5,116,000 after purchasing an additional 2,011 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in American Electric Power by 10.1% during the second quarter. Lake Street Advisors Group LLC now owns 4,008 shares of the company’s stock valued at $352,000 after buying an additional 368 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of American Electric Power by 70.3% during the second quarter. Los Angeles Capital Management LLC now owns 6,983 shares of the company’s stock valued at $613,000 after buying an additional 2,882 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of American Electric Power by 32.3% in the second quarter. Illinois Municipal Retirement Fund now owns 119,789 shares of the company’s stock worth $10,510,000 after buying an additional 29,238 shares during the period. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 1.3 %

Shares of NASDAQ:AEP traded down $1.16 during trading on Monday, hitting $90.89. The stock had a trading volume of 1,272,840 shares, compared to its average volume of 1,552,396. The company has a market capitalization of $48.36 billion, a PE ratio of 18.21, a PEG ratio of 2.70 and a beta of 0.56. 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’s fifty day moving average is $95.34 and its 200 day moving average is $96.54. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 4.09%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEP. 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 report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. 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 on the stock in a report on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.13.

American Electric Power Company 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.