Burt Wealth Advisors Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Burt Wealth Advisors reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,134 shares of the company’s stock after selling 180 shares during the quarter. Burt Wealth Advisors’ holdings in American Electric Power were worth $322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC grew its holdings in 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 purchasing an additional 1,963,154 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares during the last quarter. National Bank of Canada FI grew its stake in shares of American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after acquiring an additional 1,182,451 shares in the last quarter. Zimmer Partners LP increased its position in shares of American Electric Power by 578.2% during the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after acquiring an additional 831,235 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after acquiring an additional 776,965 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. Guggenheim increased their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Stock Performance

Shares of American Electric Power stock traded up $0.58 on Friday, reaching $96.91. 350,266 shares of the company were exchanged, compared to its average volume of 3,144,041. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.81 and a beta of 0.55. American Electric Power Company, Inc. has a 1-year low of $74.97 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. The company’s 50-day moving average is $100.59 and its two-hundred day moving average is $94.79.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.84%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 70.12%.

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.