Chartwell Investment Partners LLC cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,216 shares of the company's stock after selling 35,256 shares during the quarter. American Electric Power comprises 0.8% of Chartwell Investment Partners LLC's investment portfolio, making the stock its 14th biggest holding. Chartwell Investment Partners LLC's holdings in American Electric Power were worth $24,030,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC increased its position in American Electric Power by 57.2% during 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. LRI Investments LLC raised its holdings in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company's stock worth $35,000 after purchasing an additional 365 shares during the period. Briaud Financial Planning Inc grew its holdings in American Electric Power by 52.1% during 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. Naples Money Management LLC purchased a new stake in American Electric Power in the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power in the second quarter worth about $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Trading Down 1.7 %
American Electric Power stock traded down $1.64 during mid-day trading on Monday, hitting $94.76. The company's stock had a trading volume of 1,599,450 shares, compared to its average volume of 3,146,704. American Electric Power Company, Inc. has a 1 year low of $74.97 and a 1 year high of $105.18. The stock's fifty day moving average is $100.51 and its two-hundred day moving average is $94.99. The firm has a market capitalization of $50.42 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.74 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. 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 dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is currently 74.55%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. Barclays raised their price target on American Electric Power from $96.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a report on Thursday. Morgan Stanley upped their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Finally, 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. 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 stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $98.27.
Get Our Latest Stock Analysis on American Electric Power
American Electric Power Company Profile
(
Free Report)
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.
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