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

JB Capital LLC lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,672 shares of the company’s stock after selling 534 shares during the quarter. JB Capital LLC’s holdings in American Electric Power were worth $274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEP. Vanguard Group Inc. grew its stake in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after purchasing an additional 405,114 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after buying an additional 35,769 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group started coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI reduced their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday. Barclays boosted their price objective on 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. Finally, UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Price Performance

NASDAQ:AEP opened at $96.33 on Friday. The company has a market capitalization of $51.26 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.81 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 52 week low of $74.97 and a 52 week high of $105.18. The stock’s fifty day moving average is $100.66 and its two-hundred day moving average is $94.78.

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 $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio 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.