Prospera Private Wealth LLC Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Prospera Private Wealth LLC cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,773 shares of the company’s stock after selling 396 shares during the period. Prospera Private Wealth LLC’s holdings in American Electric Power were worth $798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in shares of American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after purchasing an additional 35,769 shares during the period. Pathway Financial Advisers LLC grew its stake in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares during the last quarter. Finally, Raymond James & Associates increased its position in American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after buying an additional 623,789 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of AEP opened at $96.70 on Wednesday. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock has a market cap of $51.46 billion, a P/E ratio of 19.38, a PEG ratio of 2.78 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a 50-day moving average of $99.47 and a two-hundred day moving average of $95.38.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AEP shares. 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 on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, BMO Capital Markets decreased their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.27.

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.