TD Private Client Wealth LLC Sells 6,696 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

TD Private Client Wealth LLC trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,277 shares of the company's stock after selling 6,696 shares during the quarter. TD Private Client Wealth LLC's holdings in American Electric Power were worth $7,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in American Electric Power in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC increased its holdings in 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 during the last quarter. Safe Harbor Fiduciary LLC bought a new position in American Electric Power during the third quarter valued at approximately $33,000. LRI Investments LLC lifted its stake in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company's stock valued at $35,000 after acquiring an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its position in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AEP has been the subject of several analyst reports. Bank of America lifted 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 note on Thursday, August 29th. Morgan Stanley reduced their price target 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. 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. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a report on Tuesday, November 26th. Finally, Scotiabank increased 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $98.20.

American Electric Power Price Performance

AEP stock traded down $1.47 during trading on Wednesday, hitting $93.63. The company had a trading volume of 2,923,480 shares, compared to its average volume of 3,107,661. The company has a market cap of $49.82 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.77 and a beta of 0.55. The company has a fifty day moving average price of $97.98 and a two-hundred day moving average price of $96.07. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued 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 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is currently 74.55%.

American Electric Power Company Profile

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.