American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Lowered by L & S Advisors Inc

L & S Advisors Inc trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 19.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,092 shares of the company’s stock after selling 5,237 shares during the quarter. L & S Advisors Inc’s holdings in American Electric Power were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its stake in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. Zimmer Partners LP grew its stake in shares of American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after purchasing an additional 831,235 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Raymond James & Associates increased its position in shares of American Electric Power by 51.1% in the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after acquiring an additional 623,789 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after acquiring an additional 419,870 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.04 on Thursday. The firm has a market cap of $51.64 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55. The stock’s 50-day moving average is $99.34 and its 200-day moving average is $95.39. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Scotiabank boosted 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 research report on Tuesday, August 20th. Evercore ISI reduced their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average target price of $98.27.

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.