American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% during the third quarter, Holdings Channel.com reports. The firm owned 138,279 shares of the company’s stock after selling 2,321 shares during the quarter. MetLife Investment Management LLC’s holdings in American Electric Power were worth $14,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC grew its stake in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. lifted 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 buying an additional 105 shares during the last quarter. XML Financial LLC boosted its position in shares of 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 acquiring an additional 106 shares in the last quarter. Garrison Asset Management LLC increased 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 during the last quarter. Finally, Roanoke Asset Management Corp NY increased 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 during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.6 %

NASDAQ:AEP opened at $99.89 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock’s 50 day simple moving average is $98.81 and its 200-day simple moving average is $95.67. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The firm has a market cap of $53.15 billion, a P/E ratio of 20.02, a PEG ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given 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 annualized dividend and a yield of 3.72%. American Electric Power’s payout ratio is presently 74.55%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AEP shares. BMO Capital Markets decreased their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.93.

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.