Orion Portfolio Solutions LLC Cuts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Orion Portfolio Solutions LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 44,844 shares of the company’s stock after selling 2,670 shares during the period. Orion Portfolio Solutions LLC’s holdings in American Electric Power were worth $4,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings 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 valued at $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC increased its holdings in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after buying an additional 1,962,125 shares in the last quarter. State Street Corp increased its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares in the last quarter. FMR LLC grew its position in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of American Electric Power in the third quarter valued at approximately $80,207,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.3 %

Shares of AEP opened at $95.58 on Tuesday. The firm has a market cap of $50.86 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. The company’s fifty day moving average is $98.27 and its two-hundred day moving average is $95.98. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.89%. 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 (DPR) is 74.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Morgan Stanley lowered their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank increased their price target 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. Finally, BMO Capital Markets increased their price target on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.20.

About American Electric Power

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.