American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Reduced by MAI Capital Management

MAI Capital Management decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 25.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,965 shares of the company’s stock after selling 5,373 shares during the period. MAI Capital Management’s holdings in American Electric Power were worth $1,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 103 shares during the period. LRI Investments LLC lifted its stake in shares of American Electric Power by 935.9% in 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 stake in shares of American Electric Power by 52.1% in 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. Naples Money Management LLC acquired a new stake in shares of American Electric Power in the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 2nd quarter worth approximately $48,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $96.80 on Thursday. The company has a market capitalization of $51.51 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. 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’s fifty day moving average price is $99.34 and its 200 day moving average price is $95.39.

American Electric Power Increases Dividend

The company also recently announced 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 represents a $3.72 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEP. Evercore ISI reduced 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. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company cut their target price on shares of 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. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus price target of $98.27.

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.