Keystone Financial Planning Inc. Buys 503 Shares of American Electric Power Company Inc (NYSE:AEP)

Keystone Financial Planning Inc. grew its stake in American Electric Power Company Inc (NYSE:AEP) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,739 shares of the utilities provider’s stock after purchasing an additional 503 shares during the quarter. American Electric Power makes up about 2.5% of Keystone Financial Planning Inc.’s holdings, making the stock its 22nd largest position. Keystone Financial Planning Inc.’s holdings in American Electric Power were worth $5,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of American Electric Power by 100.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 34,453 shares of the utilities provider’s stock valued at $3,257,000 after purchasing an additional 17,243 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of American Electric Power by 0.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 27,824 shares of the utilities provider’s stock valued at $2,630,000 after purchasing an additional 207 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $1,378,000. Pinnacle Financial Partners Inc. lifted its holdings in shares of American Electric Power by 5.7% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 84,086 shares of the utilities provider’s stock valued at $7,947,000 after purchasing an additional 4,519 shares in the last quarter. Finally, 9258 Wealth Management LLC bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $516,000. Institutional investors own 73.63% of the company’s stock.

Shares of AEP opened at $102.85 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.36 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $50.34 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 4.11 and a beta of 0.08. The stock has a 50 day moving average of $98.46 and a 200 day moving average of $93.45. American Electric Power Company Inc has a 12 month low of $79.02 and a 12 month high of $104.97.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, February 7th. American Electric Power’s dividend payout ratio is currently 70.89%.

A number of analysts recently commented on AEP shares. Citigroup increased their price target on American Electric Power from $96.00 to $101.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. SunTrust Banks set a $102.00 price target on American Electric Power and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating and set a $101.00 price target for the company. in a research report on Wednesday, January 15th. Scotiabank raised American Electric Power from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $93.00 to $102.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised American Electric Power from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $96.00 to $103.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.85.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Read More: Percentage Gainers

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.