American Electric Power Company, Inc. (NASDAQ:AEP) Position Reduced by Maia Wealth LLC

Maia Wealth LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,681 shares of the company’s stock after selling 327 shares during the period. Maia Wealth LLC’s holdings in American Electric Power were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC acquired a new stake in American Electric Power during the first quarter worth about $37,000. Briaud Financial Planning Inc lifted its holdings in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Reston Wealth Management LLC acquired a new position in American Electric Power in the third quarter valued at approximately $48,000. Finally, Friedenthal Financial acquired a new position in American Electric Power during the 3rd quarter valued at approximately $50,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 4.1 %

Shares of NASDAQ:AEP opened at $96.25 on Thursday. American Electric Power Company, Inc. has a 1 year low of $74.97 and a 1 year high of $105.18. The firm has a fifty day moving average price of $100.71 and a 200 day moving average price of $94.77. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $51.22 billion, a PE ratio of 19.17, a P/E/G ratio of 2.78 and a beta of 0.55.

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 issued a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio is currently 74.10%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley increased their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Scotiabank increased their target price 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, Guggenheim upped their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.43.

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.