Franklin Resources Inc. Sells 879,860 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Franklin Resources Inc. decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,369,608 shares of the company's stock after selling 879,860 shares during the period. Franklin Resources Inc. owned about 0.82% of American Electric Power worth $431,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC increased its stake in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock worth $25,000 after purchasing an additional 103 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the third quarter worth $33,000. LRI Investments LLC boosted its holdings in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company's stock worth $35,000 after acquiring an additional 365 shares during the period. Finally, Briaud Financial Planning Inc grew its position in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They set a "hold" rating and a $107.00 price objective on the stock. Bank of America raised their price objective 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. Evercore ISI decreased their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power has a consensus rating of "Hold" and an average target price of $97.13.

American Electric Power Price Performance

Shares of NASDAQ AEP traded down $0.14 during trading hours on Friday, reaching $92.71. 1,810,496 shares of the stock traded hands, compared to its average volume of 3,097,623. The company's 50-day simple moving average is $97.50 and its two-hundred day simple moving average is $96.06. The company has a market capitalization of $49.33 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-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 firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. American Electric Power's dividend payout ratio (DPR) is 74.55%.

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.