Brighton Jones LLC Sells 935 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Brighton Jones LLC lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,506 shares of the company’s stock after selling 935 shares during the quarter. Brighton Jones LLC’s holdings in American Electric Power were worth $975,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AEP. Hodges Capital Management Inc. bought a new stake in American Electric Power in the first quarter worth $1,615,000. Quantbot Technologies LP purchased a new stake in American Electric Power in the first quarter worth about $1,731,000. Nordea Investment Management AB lifted its stake in American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after acquiring an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC lifted its position in shares of American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after buying an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after buying an additional 103,771 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Scotiabank raised their price objective 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. Finally, Guggenheim raised their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Trading Down 1.4 %

Shares of AEP stock opened at $99.39 on Friday. American Electric Power Company, Inc. has a twelve month low of $74.37 and a twelve month high of $105.18. The company has a market capitalization of $52.39 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.79 and a beta of 0.54. The firm has a 50-day moving average price of $100.60 and a 200 day moving average price of $93.68. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. Research analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. American Electric Power’s dividend payout ratio is presently 65.31%.

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.