North Star Investment Management Corp. Cuts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

North Star Investment Management Corp. trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,870 shares of the company’s stock after selling 1,297 shares during the period. North Star Investment Management Corp.’s holdings in American Electric Power were worth $3,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC lifted its holdings in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. LRI Investments LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at about $37,000. Briaud Financial Planning Inc raised its holdings 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 valued at $38,000 after purchasing an additional 150 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial bought a new stake in shares of American Electric Power in the 3rd quarter valued at about $50,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of analyst reports. Scotiabank lifted 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 research report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. 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 report on Thursday, August 29th. Finally, Barclays boosted their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.93 during trading hours on Tuesday, reaching $99.33. 875,296 shares of the company’s stock were exchanged, compared to its average volume of 3,115,905. The company has a market capitalization of $52.86 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 1 year low of $74.97 and a 1 year high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business has a fifty day moving average of $100.67 and a two-hundred day moving average of $94.65.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 70.12%.

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.