American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 71.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,280 shares of the company’s stock after selling 3,197 shares during the quarter. Truvestments Capital LLC’s holdings in American Electric Power were worth $131,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. LRI Investments LLC raised its position in American Electric Power by 935.9% in the second 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 lifted its holdings in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power in the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AEP shares. BMO Capital Markets decreased 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 report on Thursday, November 7th. Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Evercore ISI reduced their price objective 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. UBS Group upped their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. 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, American Electric Power currently has an average rating of “Hold” and a consensus price target of $97.93.

American Electric Power Stock Performance

Shares of AEP opened at $99.33 on Wednesday. The company has a market capitalization of $52.86 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.82 and a beta of 0.55. 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 Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company’s 50 day simple moving average is $98.87 and its 200 day simple moving average is $95.64.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.75%. 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.