HF Advisory Group LLC Trims Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

HF Advisory Group LLC lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,424 shares of the company’s stock after selling 111 shares during the period. HF Advisory Group LLC’s holdings in American Electric Power were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AEP. HHM Wealth Advisors LLC lifted its position in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. LRI Investments LLC acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $37,000. Briaud Financial Planning Inc boosted its position in shares of 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 purchasing an additional 150 shares during the period. Reston Wealth Management LLC acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new stake in American Electric Power in the third quarter valued at approximately $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $100.40 on Wednesday. The company has a fifty day moving average of $100.67 and a two-hundred day moving average of $94.65. The company has a market capitalization of $53.42 billion, a PE ratio of 20.00, a P/E/G ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 1 year low of $74.97 and a 1 year 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.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America boosted 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. Scotiabank lifted 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 report on Tuesday, August 20th. Morgan Stanley raised their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.43.

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.