American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by STF Management LP

STF Management LP reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the company’s stock after selling 757 shares during the period. STF Management LP’s holdings in American Electric Power were worth $780,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AEP. Lazard Asset Management LLC boosted its position in shares of American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after acquiring an additional 776,965 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after buying an additional 35,769 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of American Electric Power by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock worth $326,596,000 after buying an additional 51,467 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $97.75 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a 50-day simple moving average of $99.24 and a 200-day simple moving average of $95.40. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.79 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 issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEP. Barclays increased their price objective on 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. Bank of America raised 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. Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on 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 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.27.

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.