L & S Advisors Inc Has $2.27 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

L & S Advisors Inc lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 19.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,092 shares of the company’s stock after selling 5,237 shares during the quarter. L & S Advisors Inc’s holdings in American Electric Power were worth $2,267,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Lake Street Advisors Group LLC raised its position in American Electric Power by 37.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,640 shares of the company’s stock worth $313,000 after purchasing an additional 998 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in American Electric Power by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 263,368 shares of the company’s stock worth $22,697,000 after purchasing an additional 5,537 shares during the last quarter. Pitcairn Co. raised its position in American Electric Power by 6.3% during the 1st quarter. Pitcairn Co. now owns 3,291 shares of the company’s stock worth $283,000 after purchasing an additional 194 shares during the last quarter. CreativeOne Wealth LLC raised its position in American Electric Power by 21.6% during the 1st quarter. CreativeOne Wealth LLC now owns 7,750 shares of the company’s stock worth $668,000 after purchasing an additional 1,375 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in American Electric Power by 26.1% during the 1st quarter. EP Wealth Advisors LLC now owns 8,857 shares of the company’s stock worth $763,000 after acquiring an additional 1,833 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AEP shares. Evercore ISI decreased their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. 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, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Trading Up 0.2 %

NASDAQ:AEP opened at $97.04 on Thursday. 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 quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average price is $99.34 and its 200-day moving average price is $95.39. The stock has a market cap of $51.64 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.79 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.83%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.