Soltis Investment Advisors LLC Buys 23,829 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Soltis Investment Advisors LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 61.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,353 shares of the company’s stock after buying an additional 23,829 shares during the quarter. Soltis Investment Advisors LLC’s holdings in American Electric Power were worth $5,751,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AEP. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the 3rd quarter worth about $33,000. Newbridge Financial Services Group Inc. bought a new position in American Electric Power in the 4th quarter worth about $35,000. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power in the 3rd quarter valued at about $48,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Performance

American Electric Power stock opened at $100.35 on Monday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a market cap of $53.40 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.84 and a beta of 0.58. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average of $95.11 and a 200-day moving average of $97.77.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.