HBW Advisory Services LLC Sells 2,533 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

HBW Advisory Services LLC lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,234 shares of the company’s stock after selling 2,533 shares during the period. HBW Advisory Services LLC’s holdings in American Electric Power were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its holdings in shares of American Electric Power by 4.6% in the third quarter. Park Avenue Securities LLC now owns 27,687 shares of the company’s stock valued at $2,841,000 after buying an additional 1,227 shares during the last quarter. Delta Financial Group Inc. acquired a new stake in American Electric Power in the 3rd quarter valued at about $221,000. Czech National Bank raised its stake in shares of American Electric Power by 7.9% in the third quarter. Czech National Bank now owns 108,398 shares of the company’s stock worth $11,122,000 after acquiring an additional 7,950 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of American Electric Power by 1.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 55,842 shares of the company’s stock worth $5,729,000 after purchasing an additional 554 shares in the last quarter. Finally, Trust Co. of Toledo NA OH grew its stake in shares of American Electric Power by 39.0% during the third quarter. Trust Co. of Toledo NA OH now owns 11,522 shares of the company’s stock valued at $1,182,000 after purchasing an additional 3,232 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AEP. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim boosted their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets raised their price target on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.79.

American Electric Power Stock Down 1.3 %

AEP traded down $1.29 on Friday, hitting $100.08. 916,026 shares of the company were exchanged, compared to its average volume of 3,173,393. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock’s fifty day moving average is $100.29 and its 200-day moving average is $92.11. The company has a market cap of $52.75 billion, a PE ratio of 18.68, a PEG ratio of 2.93 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. Equities research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.52%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

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.