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

OneAscent Financial Services LLC decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 27.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. grew its stake in shares of American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares during the period. XML Financial LLC grew its stake in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after buying an additional 106 shares during the period. Garrison Asset Management LLC boosted its position in American Electric Power by 0.6% during the 3rd 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 period. Finally, Roanoke Asset Management Corp NY boosted its position in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.2 %

Shares of NASDAQ:AEP opened at $96.49 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market cap of $51.34 billion, a PE ratio of 19.34, a price-to-earnings-growth 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 firm has a 50 day simple moving average of $99.60 and a 200 day simple moving average of $95.32.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEP. Wells Fargo & Company decreased their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Bank of America upped 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 note on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets dropped their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Barclays increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.