Assetmark Inc. reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 16.2% in the third quarter, Holdings Channel.com reports. The fund owned 36,512 shares of the company’s stock after selling 7,081 shares during the quarter. Assetmark Inc.’s holdings in American Electric Power were worth $3,746,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% in the second 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. E Fund Management Co. Ltd. grew its stake in American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after buying an additional 105 shares in the last quarter. Garrison Asset Management LLC increased its holdings in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the last quarter. Roanoke Asset Management Corp NY increased its holdings in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the last quarter. Finally, Bank of Stockton lifted its holdings in shares of American Electric Power by 2.2% during the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.
Analysts Set New Price Targets
AEP has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Morgan Stanley increased their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Barclays increased their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.27.
American Electric Power Price Performance
Shares of AEP stock opened at $92.96 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market cap of $49.47 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.75 and a beta of 0.55. The business’s fifty day moving average is $100.40 and its 200 day moving average is $95.05. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18.
American Electric Power Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 4.00%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 70.54%.
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.
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