Meritage Portfolio Management Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Meritage Portfolio Management reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 93.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,849 shares of the company's stock after selling 51,553 shares during the quarter. Meritage Portfolio Management's holdings in American Electric Power were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. HHM Wealth Advisors LLC raised its stake in 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 buying an additional 103 shares during the period. E Fund Management Co. Ltd. increased its holdings in 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 purchasing an additional 105 shares in the last quarter. XML Financial LLC increased its holdings in 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 purchasing an additional 106 shares in the last quarter. Garrison Asset Management LLC grew its holdings in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock valued at $1,950,000 after acquiring an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY grew its holdings in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock valued at $516,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AEP shares. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. Wells Fargo & Company decreased their price objective 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. Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley boosted their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Two 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $98.27.

American Electric Power Stock Down 2.0 %

AEP stock traded down $1.85 during trading on Tuesday, reaching $92.66. The stock had a trading volume of 1,280,202 shares, compared to its average volume of 3,146,938. American Electric Power Company, Inc. has a one year low of $74.97 and a one year high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company's 50 day moving average is $100.40 and its two-hundred day moving average is $95.05. The company has a market capitalization of $49.31 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 2.75 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently announced 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 an increase from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, November 8th. American Electric Power's dividend payout ratio is currently 70.54%.

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.