1834 Investment Advisors Co. Sells 992 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

1834 Investment Advisors Co. cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 11.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,887 shares of the company’s stock after selling 992 shares during the period. 1834 Investment Advisors Co.’s holdings in American Electric Power were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AEP. HHM Wealth Advisors LLC grew its position 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 acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. grew its position 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 acquiring an additional 105 shares during the last quarter. Garrison Asset Management LLC grew its position in 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 last quarter. Roanoke Asset Management Corp NY grew its position in 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 last quarter. Finally, Bank of Stockton grew its position in American Electric Power by 2.2% during the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AEP shares. Bank of America lifted their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Down 4.1 %

Shares of NASDAQ:AEP opened at $96.25 on Thursday. The stock has a fifty day simple moving average of $100.71 and a two-hundred day simple moving average of $94.77. The stock has a market capitalization of $51.22 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. American Electric Power’s payout ratio is presently 74.10%.

American Electric Power 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.