Boston Financial Mangement LLC Sells 448 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Boston Financial Mangement LLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 17.7% during the third quarter, HoldingsChannel reports. The firm owned 2,082 shares of the company’s stock after selling 448 shares during the period. Boston Financial Mangement LLC’s holdings in American Electric Power were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Denali Advisors LLC purchased a new position in American Electric Power in the 1st quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in American Electric Power in the 1st quarter valued at approximately $37,000. Briaud Financial Planning Inc grew its stake in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in American Electric Power in the 3rd quarter valued at approximately $50,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Bank of America boosted 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. Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Barclays upped their target price 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $97.39 on Wednesday. American Electric Power Company, Inc. has a 1 year low of $74.37 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company’s 50-day moving average is $100.70 and its 200 day moving average is $94.18. The stock has a market capitalization of $51.82 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.10%.

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.