Integrated Advisors Network LLC Sells 110 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Integrated Advisors Network LLC cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,463 shares of the company’s stock after selling 110 shares during the period. Integrated Advisors Network LLC’s holdings in American Electric Power were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SC&H Financial Advisors Inc. bought a new stake in American Electric Power in the 3rd quarter valued at about $227,000. Fortitude Family Office LLC boosted its stake in American Electric Power by 3,800.0% during the 3rd quarter. Fortitude Family Office LLC now owns 1,443 shares of the company’s stock valued at $148,000 after purchasing an additional 1,406 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in American Electric Power by 113.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,749 shares of the company’s stock valued at $692,000 after purchasing an additional 3,580 shares during the last quarter. abrdn plc boosted its stake in American Electric Power by 20.5% during the 3rd quarter. abrdn plc now owns 359,708 shares of the company’s stock valued at $36,967,000 after purchasing an additional 61,267 shares during the last quarter. Finally, Orrstown Financial Services Inc. acquired a new position in American Electric Power during the 3rd quarter valued at about $311,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AEP shares. Scotiabank lifted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their price target 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. Wells Fargo & Company boosted their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Guggenheim upped 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 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. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average target price of $98.43.

American Electric Power Trading Down 1.5 %

Shares of AEP stock opened at $97.25 on Friday. The company’s fifty day simple moving average is $100.68 and its two-hundred day simple moving average is $94.35. 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 Company, Inc. has a 1 year low of $74.97 and a 1 year high of $105.18. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.78 and a beta of 0.54.

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

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 3.83%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 70.12%.

American Electric Power 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.