Cyndeo Wealth Partners LLC Has $1.30 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cyndeo Wealth Partners LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 62.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,650 shares of the company’s stock after selling 20,886 shares during the period. Cyndeo Wealth Partners LLC’s holdings in American Electric Power were worth $1,298,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. HHM Wealth Advisors LLC grew its stake in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter worth $26,000. LRI Investments LLC grew its stake in shares of 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 acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc grew its stake in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of American Electric Power in the 1st quarter worth $41,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AEP shares. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their price target on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $100.69 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $53.08 billion, a PE ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a twelve month low of $72.01 and a twelve month high of $105.18. The company has a 50-day moving average price of $100.43 and a two-hundred day moving average price of $93.41.

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. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business earned $1.13 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 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.