Aptus Capital Advisors LLC Reduces Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Aptus Capital Advisors LLC lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,309 shares of the company’s stock after selling 336 shares during the quarter. Aptus Capital Advisors LLC’s holdings in American Electric Power were worth $853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its holdings 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 acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. boosted 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 purchasing an additional 105 shares during the period. XML Financial LLC boosted its stake in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the period. Garrison Asset Management LLC grew its holdings in American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its position in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AEP. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America boosted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets lowered their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Up 0.5 %

Shares of NASDAQ:AEP opened at $93.76 on Friday. The stock has a market capitalization of $49.89 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The stock’s 50-day moving average price is $100.04 and its 200-day moving average price is $95.09. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month 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 given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.97%. 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 74.55%.

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.