1620 Investment Advisors Inc. Has $131,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

1620 Investment Advisors Inc. cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 34.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,276 shares of the company’s stock after selling 667 shares during the period. 1620 Investment Advisors Inc.’s holdings in American Electric Power were worth $131,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its holdings in shares of American Electric Power by 521.8% during the 3rd quarter. JFS Wealth Advisors LLC now owns 8,326 shares of the company’s stock valued at $854,000 after acquiring an additional 6,987 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of American Electric Power by 23.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 40,710 shares of the company’s stock worth $4,177,000 after buying an additional 7,665 shares during the period. First Trust Direct Indexing L.P. grew its stake in American Electric Power by 24.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,780 shares of the company’s stock valued at $2,029,000 after buying an additional 3,886 shares during the last quarter. Trajan Wealth LLC grew its stake in American Electric Power by 0.4% in the 3rd quarter. Trajan Wealth LLC now owns 46,168 shares of the company’s stock valued at $4,737,000 after buying an additional 166 shares during the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV grew its position in shares of American Electric Power by 5.6% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 8,174 shares of the company’s stock valued at $839,000 after purchasing an additional 433 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.0 %

Shares of AEP opened at $97.40 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a 50 day simple moving average of $100.69 and a 200-day simple moving average of $94.20. American Electric Power Company, Inc. has a 1 year low of $74.73 and a 1 year high of $105.18. The stock has a market cap of $51.83 billion, a PE ratio of 19.40, a PEG ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

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 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 3.82%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 74.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. 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. Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.43.

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.