Sigma Planning Corp Sells 2,004 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sigma Planning Corp trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,555 shares of the company’s stock after selling 2,004 shares during the period. Sigma Planning Corp’s holdings in American Electric Power were worth $1,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC raised 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 purchasing an additional 103 shares during the period. LRI Investments LLC purchased a new position in American Electric Power during the first quarter valued at $37,000. Briaud Financial Planning Inc grew its stake in American Electric Power by 52.1% during 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 in the last quarter. Reston Wealth Management LLC purchased a new position in American Electric Power during the third quarter valued at $48,000. Finally, Friedenthal Financial purchased a new position in American Electric Power during the third quarter valued at $50,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AEP shares. BMO Capital Markets cut 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 research note on Thursday, November 7th. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Barclays lifted 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 report on Tuesday, October 15th. Finally, Evercore ISI reduced their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Down 1.6 %

NASDAQ:AEP opened at $92.96 on Wednesday. The company has a market cap of $49.47 billion, a PE ratio of 18.63, a P/E/G ratio of 2.75 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average is $100.40 and its two-hundred day moving average is $95.05.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 70.54%.

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.