Cyndeo Wealth Partners LLC Reduces Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cyndeo Wealth Partners LLC trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 62.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,650 shares of the company's stock after selling 20,886 shares during the period. Cyndeo Wealth Partners LLC's holdings in American Electric Power were worth $1,298,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AEP. HHM Wealth Advisors LLC lifted 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 buying an additional 103 shares in the last quarter. Denali Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $26,000. LRI Investments LLC acquired a new position in shares of American Electric Power during the 1st quarter worth approximately $37,000. 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. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Down 0.5 %

Shares of American Electric Power stock traded down $0.53 during trading hours on Monday, reaching $100.16. 2,547,869 shares of the company were exchanged, compared to its average volume of 3,136,667. The firm has a market cap of $52.80 billion, a PE ratio of 18.58, a PEG ratio of 2.79 and a beta of 0.54. The stock's fifty day moving average is $100.49 and its 200 day moving average is $93.52. American Electric Power Company, Inc. has a 1 year low of $72.01 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company earned $1.13 EPS. American Electric Power's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.51%. American Electric Power's payout ratio is 65.31%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEP. Wells Fargo & Company boosted their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Guggenheim upped their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets raised their price target on shares of American Electric Power from $109.00 to $114.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, American Electric Power has a consensus rating of "Hold" and a consensus 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.