Massachusetts Financial Services Co. MA Sells 69,142 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Massachusetts Financial Services Co. MA decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,094,833 shares of the company’s stock after selling 69,142 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in American Electric Power were worth $522,730,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AEP. HHM Wealth Advisors LLC increased its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. LRI Investments LLC grew its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc increased its position in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares during the period. Naples Money Management LLC purchased a new stake in shares of American Electric Power in the second quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in American Electric Power in the second quarter worth approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the topic of several research reports. UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. BMO Capital Markets decreased their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Morgan Stanley lifted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Evercore ISI decreased their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, Barclays raised 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 report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.27.

American Electric Power Price Performance

Shares of AEP opened at $97.75 on Friday. The business’s 50-day moving average is $99.24 and its two-hundred day moving average is $95.40. The company has a market capitalization of $52.01 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.79 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.81%. This is a positive change 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 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.