Daymark Wealth Partners LLC Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Daymark Wealth Partners LLC trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 19.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,341 shares of the company’s stock after selling 573 shares during the period. Daymark Wealth Partners LLC’s holdings in American Electric Power were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in American Electric Power by 10.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,743 shares of the company’s stock worth $2,346,000 after acquiring an additional 2,593 shares during the period. Marshall Wace LLP acquired a new stake in shares of American Electric Power during the second quarter worth $19,852,000. Toronto Dominion Bank grew its position in American Electric Power by 55.0% in the 2nd quarter. Toronto Dominion Bank now owns 270,235 shares of the company’s stock valued at $23,710,000 after buying an additional 95,838 shares during the last quarter. AXA S.A. grew its position 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 during the last quarter. Finally, AQR Capital Management LLC raised its position in American Electric Power by 37.1% during the 2nd quarter. AQR Capital Management LLC now owns 189,119 shares of the company’s stock worth $16,593,000 after buying an additional 51,217 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Up 0.7 %

Shares of NASDAQ AEP opened at $98.18 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm’s 50-day moving average is $94.83 and its two-hundred day moving average is $97.12. 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 market capitalization of $52.24 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56.

American Electric Power Dividend Announcement

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

Analyst Ratings Changes

AEP has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company cut their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Barclays decreased their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Finally, 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 report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

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.