BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,958 shares of the company’s stock after selling 12,816 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in American Electric Power were worth $9,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its stake 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 acquiring an additional 103 shares during the period. LRI Investments LLC boosted its position in shares of 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 buying an additional 365 shares during the period. Briaud Financial Planning Inc grew its stake in shares of 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 buying an additional 150 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial acquired a new position in American Electric Power during the 3rd quarter worth approximately $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $99.86 on Monday. The stock has a market capitalization of $53.14 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55. The firm’s 50-day moving average price is $98.72 and its two-hundred day moving average price is $95.82. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.73%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America increased 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. Evercore ISI dropped their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Finally, Scotiabank increased their price target on 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, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price 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.