Granite Group Advisors LLC Reduces Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Granite Group Advisors LLC lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,654 shares of the company’s stock after selling 349 shares during the period. American Electric Power comprises 1.8% of Granite Group Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Granite Group Advisors LLC’s holdings in American Electric Power were worth $2,837,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC raised its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC boosted its stake in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc increased its position in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Naples Money Management LLC bought a new stake in American Electric Power during the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in American Electric Power in the second quarter worth $48,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.3 %

NASDAQ AEP traded up $0.32 on Friday, hitting $96.65. The company’s stock had a trading volume of 190,536 shares, compared to its average volume of 3,143,305. The firm has a market cap of $51.43 billion, a P/E ratio of 19.19, a PEG ratio of 2.81 and a beta of 0.55. American Electric Power Company, Inc. has a 52-week low of $74.97 and a 52-week high of $105.18. The company’s 50-day simple moving average is $100.66 and its 200 day simple moving average is $94.78. 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 70.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AEP. Morgan Stanley lifted 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. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.27.

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.