Clarity Financial LLC Sells 349 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Clarity Financial LLC lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,625 shares of the company’s stock after selling 349 shares during the period. Clarity Financial LLC’s holdings in American Electric Power were worth $680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 103 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the period. Garrison Asset Management LLC lifted its position in American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares during the period. Roanoke Asset Management Corp NY lifted its position in American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the period. Finally, Bank of Stockton lifted its position in American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares during the period. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AEP. Guggenheim increased their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Barclays increased their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Morgan Stanley upped their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. 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 report on Thursday, August 29th. Finally, Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.43.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $98.40 on Tuesday. The firm has a fifty day moving average price of $100.67 and a 200-day moving average price of $94.65. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market cap of $52.36 billion, a PE 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 1 year low of $74.97 and a 1 year high of $105.18.

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 paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.78%. This is a boost 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 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.