Fisher Asset Management LLC Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Fisher Asset Management LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 24.1% in the third quarter, HoldingsChannel.com reports. The firm owned 3,884 shares of the company’s stock after selling 1,231 shares during the quarter. Fisher Asset Management LLC’s holdings in American Electric Power were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its position in shares of American Electric Power by 57.2% during the 2nd 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 last quarter. LRI Investments LLC grew its stake in shares of 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 buying an additional 365 shares in the last quarter. Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Naples Money Management LLC purchased a new stake in shares of American Electric Power during the 2nd quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power in the 2nd quarter valued at about $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.0 %

AEP stock opened at $99.86 on Friday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The firm has a market cap of $53.14 billion, a PE ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. The firm’s 50 day moving average price is $98.72 and its 200-day moving average price is $95.79. 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.73%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is 74.55%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AEP shares. Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets lowered their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Barclays cut their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Two 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $97.93.

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.