MetLife Investment Management LLC Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

MetLife Investment Management LLC lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,279 shares of the company’s stock after selling 2,321 shares during the quarter. MetLife Investment Management LLC’s holdings in American Electric Power were worth $14,187,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC increased 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 purchasing an additional 103 shares in the last quarter. LRI Investments LLC boosted its holdings in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc increased its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the third quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power in the third quarter valued at approximately $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI dropped their price target 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. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. BMO Capital Markets dropped their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group raised their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.93.

American Electric Power Trading Up 0.6 %

Shares of NASDAQ AEP opened at $99.89 on Thursday. The stock has a fifty day simple moving average of $98.81 and a 200-day simple moving average of $95.67. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. 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 stock has a market capitalization of $53.15 billion, a PE ratio of 20.02, a PEG ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

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