Keudell Morrison Wealth Management Decreases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

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

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after acquiring an additional 19,081 shares during the period. Cozad Asset Management Inc. purchased a new stake in shares of American Electric Power during the 3rd quarter valued at $214,000. Graypoint LLC raised its stake in shares of American Electric Power by 4.5% during the 3rd quarter. Graypoint LLC now owns 5,070 shares of the company’s stock worth $520,000 after purchasing an additional 220 shares during the period. Forte Capital LLC ADV raised its stake in shares of American Electric Power by 47.2% during the 3rd quarter. Forte Capital LLC ADV now owns 10,747 shares of the company’s stock worth $1,103,000 after purchasing an additional 3,445 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of American Electric Power by 8.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 22,023 shares of the company’s stock worth $2,260,000 after buying an additional 1,788 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective 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. 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 research note on Thursday, October 3rd. Barclays increased their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Guggenheim boosted their target price on 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, Wells Fargo & Company cut their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus price target of $98.13.

American Electric Power Price Performance

Shares of AEP stock traded down $0.44 during trading hours on Thursday, reaching $95.81. The stock had a trading volume of 265,657 shares, compared to its average volume of 3,141,955. The stock’s fifty day simple moving average is $100.71 and its 200 day simple moving average is $94.77. The firm has a market capitalization of $50.98 billion, a PE ratio of 19.09, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18. 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 (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.78 by $0.07. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.39 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The firm 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 is a positive change 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 3.88%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.10%.

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.