Keudell Morrison Wealth Management Sells 446 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Keudell Morrison Wealth Management lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,823 shares of the company’s stock after selling 446 shares during the quarter. Keudell Morrison Wealth Management’s holdings in American Electric Power were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. raised its position in American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after purchasing an additional 105 shares during the period. Garrison Asset Management LLC lifted its stake in American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares during the last quarter. Roanoke Asset Management Corp NY boosted its position in American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the period. Finally, Bank of Stockton grew its stake in shares of American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AEP shares. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America increased their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Evercore ISI cut 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 report on Thursday. JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, BMO Capital Markets raised their price target on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.13.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.44 during midday trading on Thursday, reaching $95.81. 265,657 shares of the company’s stock traded hands, compared to its average volume of 3,141,955. American Electric Power Company, Inc. has a one year low of $74.97 and a one year high of $105.18. The stock has a 50 day moving average of $100.71 and a 200 day moving average of $94.77. The company has a market cap of $50.98 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 2.78 and a beta of 0.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.39 billion. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 74.10%.

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.