American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Cut by OneAscent Financial Services LLC

OneAscent Financial Services LLC decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 27.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,974 shares of the company’s stock after selling 1,511 shares during the quarter. OneAscent Financial Services LLC’s holdings in American Electric Power were worth $408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Caprock Group LLC lifted its position in American Electric Power by 8.6% in the 3rd quarter. Caprock Group LLC now owns 7,251 shares of the company’s stock worth $744,000 after buying an additional 573 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of American Electric Power by 1.7% during the 3rd quarter. Pathstone Holdings LLC now owns 52,427 shares of the company’s stock worth $5,379,000 after purchasing an additional 878 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of American Electric Power by 35.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 9,647 shares of the company’s stock worth $990,000 after purchasing an additional 2,508 shares during the last quarter. New England Asset Management Inc. acquired a new position in shares of American Electric Power during the 3rd quarter worth $3,404,000. Finally, Joseph Group Capital Management increased its stake in shares of American Electric Power by 1.9% during the 3rd quarter. Joseph Group Capital Management now owns 24,756 shares of the company’s stock worth $2,540,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AEP. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays increased their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley raised their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim raised their target price 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. Finally, Jefferies Financial Group started 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 research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Price Performance

NASDAQ:AEP opened at $96.49 on Tuesday. The company has a 50-day moving average of $99.60 and a 200-day moving average of $95.32. The company has a market capitalization of $51.34 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.