American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 31,473 shares of the company’s stock after selling 624 shares during the period. Hantz Financial Services Inc.’s holdings in American Electric Power were worth $3,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. Northwest & Ethical Investments L.P. grew its holdings in American Electric Power by 31.9% in the third quarter. Northwest & Ethical Investments L.P. now owns 225,992 shares of the company’s stock valued at $23,187,000 after purchasing an additional 54,671 shares during the period. Financial Counselors Inc. boosted its holdings in American Electric Power by 0.3% in the third quarter. Financial Counselors Inc. now owns 67,064 shares of the company’s stock valued at $6,881,000 after purchasing an additional 194 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of American Electric Power by 3.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 92,851 shares of the company’s stock valued at $9,527,000 after buying an additional 3,440 shares during the last quarter. Fiduciary Trust Co boosted its stake in American Electric Power by 3.0% during the 3rd quarter. Fiduciary Trust Co now owns 40,147 shares of the company’s stock valued at $4,119,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in American Electric Power by 10.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,815 shares of the company’s stock valued at $10,959,000 after buying an additional 10,173 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEP. Barclays dropped their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $97.93.

American Electric Power Stock Down 0.0 %

AEP opened at $99.86 on Friday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55. The business has a 50 day moving average of $98.72 and a 200-day moving average of $95.79. 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 Increases Dividend

The firm 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 dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.73%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

American Electric Power Company 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.