Frazier Financial Advisors LLC Trims Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Frazier Financial Advisors LLC lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 447 shares of the company’s stock after selling 149 shares during the quarter. Frazier Financial Advisors LLC’s holdings in American Electric Power were worth $46,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its position in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after buying an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. increased its position in 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 worth $296,433,000 after buying an additional 35,769 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its position in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of analyst reports. Evercore ISI reduced their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. JPMorgan Chase & Co. increased their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets cut their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $98.27.

American Electric Power Price Performance

NASDAQ:AEP opened at $96.31 on Friday. The firm has a market capitalization of $51.25 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.69 and a beta of 0.55. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The business has a 50 day simple moving average of $99.74 and a 200-day simple moving average of $95.21. 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.