Hodges Capital Management Inc. Decreases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Hodges Capital Management Inc. decreased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 27.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,674 shares of the company's stock after selling 5,824 shares during the quarter. Hodges Capital Management Inc.'s holdings in American Electric Power were worth $1,608,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company's stock worth $464,000 after acquiring an additional 105 shares during the period. XML Financial LLC boosted its stake in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company's stock worth $300,000 after acquiring an additional 106 shares during the period. Garrison Asset Management LLC boosted its stake in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock worth $1,950,000 after acquiring an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY boosted its stake in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock worth $516,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on AEP. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They issued a "hold" rating and a $107.00 price target for the company. JPMorgan Chase & Co. upped their target price on American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Morgan Stanley cut their target price on 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. UBS Group upped their target price on American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research report on Thursday, November 7th. Finally, Scotiabank upped their target price on 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of "Hold" and an average price target of $98.20.

American Electric Power Stock Down 0.3 %

NASDAQ:AEP traded down $0.27 on Monday, hitting $95.58. The stock had a trading volume of 2,651,098 shares, compared to its average volume of 3,112,832. The business's fifty day moving average is $98.27 and its 200 day moving average is $95.98. The company has a market cap of $50.86 billion, a PE ratio of 19.15, a P/E/G ratio of 2.77 and a beta of 0.55. 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 Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

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 paid a $0.93 dividend. The ex-dividend date of this dividend is 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 3.89%. American Electric Power's dividend payout ratio 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.