American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Reduced by Garland Capital Management Inc.

Garland Capital Management Inc. lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,640 shares of the company’s stock after selling 3,435 shares during the period. American Electric Power accounts for about 3.0% of Garland Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Garland Capital Management Inc.’s holdings in American Electric Power were worth $3,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. HHM Wealth Advisors LLC increased its stake in shares of American Electric Power by 57.2% during the second 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. LRI Investments LLC bought a new stake in shares of American Electric Power in the 1st quarter worth $37,000. Briaud Financial Planning Inc boosted its stake in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Reston Wealth Management LLC acquired a new position in American Electric Power during the third quarter worth about $48,000. Finally, Friedenthal Financial bought a new stake in American Electric Power in the third quarter worth about $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AEP shares. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Guggenheim upped their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Morgan Stanley raised their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. BMO Capital Markets boosted their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Up 0.7 %

American Electric Power stock traded up $0.68 during trading hours on Tuesday, hitting $99.08. The company had a trading volume of 616,178 shares, compared to its average volume of 3,115,226. The firm’s fifty day moving average is $100.67 and its 200-day moving average is $94.65. The firm has a market capitalization of $52.72 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given 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 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 70.12%.

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.