American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by JB Capital LLC

JB Capital LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,672 shares of the company’s stock after selling 534 shares during the quarter. JB Capital LLC’s holdings in American Electric Power were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AEP. HHM Wealth Advisors LLC boosted its stake in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. E Fund Management Co. Ltd. raised its stake in American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares during the last quarter. Garrison Asset Management LLC lifted its position 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 worth $1,950,000 after acquiring an additional 109 shares during the period. Roanoke Asset Management Corp NY lifted its position in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after acquiring an additional 110 shares during the period. Finally, Bank of Stockton grew its stake in shares of American Electric Power by 2.2% in the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing 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

Several equities research analysts recently weighed in on AEP shares. UBS Group increased their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday. Evercore ISI reduced their target price 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. Scotiabank boosted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, BMO Capital Markets dropped their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power Stock Performance

American Electric Power stock opened at $96.33 on Friday. The company has a market cap of $51.26 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock’s 50-day moving average is $100.66 and its 200-day moving average is $94.78.

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 given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. This is a boost 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 payout ratio is 70.12%.

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.