American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Cut by Ascent Group LLC

Ascent Group LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,787 shares of the company’s stock after selling 1,056 shares during the quarter. Ascent Group LLC’s holdings in American Electric Power were worth $2,851,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. HHM Wealth Advisors LLC grew its position 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 purchasing an additional 103 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc lifted its holdings in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in American Electric Power during the 2nd quarter valued at about $48,000. Finally, Reston Wealth Management LLC bought a new position in American Electric Power during the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley lowered their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company lowered their price target on shares of 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. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, Barclays decreased their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.20.

American Electric Power Price Performance

AEP opened at $98.22 on Tuesday. 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 company has a market capitalization of $52.26 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.88 and a beta of 0.55. The firm’s fifty day moving average price is $98.72 and its two-hundred day moving average price is $95.82. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is 74.55%.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.