American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Burt Wealth Advisors

Burt Wealth Advisors lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,134 shares of the company’s stock after selling 180 shares during the period. Burt Wealth Advisors’ holdings in American Electric Power were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of American Electric Power by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after acquiring an additional 405,114 shares during the period. Lazard Asset Management LLC increased its position in shares of American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after buying an additional 35,769 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after acquiring an additional 1,927,234 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company cut their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Evercore ISI cut their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday. Finally, BMO Capital Markets decreased their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Up 0.6 %

Shares of American Electric Power stock traded up $0.58 on Friday, hitting $96.91. 350,266 shares of the company traded hands, compared to its average volume of 3,144,041. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The company has a 50-day moving average price of $100.59 and a 200 day moving average price of $94.79. The company has a market cap of $51.57 billion, a PE ratio of 19.28, a PEG ratio of 2.81 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 8th. 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.