Soltis Investment Advisors LLC Sells 33,469 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Soltis Investment Advisors LLC cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 46.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,524 shares of the company’s stock after selling 33,469 shares during the period. Soltis Investment Advisors LLC’s holdings in American Electric Power were worth $3,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. HHM Wealth Advisors LLC raised its holdings in shares of American Electric Power by 57.2% in the second 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 last quarter. Legacy Investment Solutions LLC bought a new stake in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the 3rd quarter valued at about $33,000. LRI Investments LLC lifted its position in shares of American Electric Power by 935.9% during 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. Finally, Briaud Financial Planning Inc boosted its stake 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. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AEP shares. Morgan Stanley reduced their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.20.

American Electric Power Trading Down 0.5 %

NASDAQ:AEP opened at $95.10 on Wednesday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The business has a fifty day moving average price of $97.98 and a 200-day moving average price of $96.07. The firm has a market capitalization of $50.60 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.91%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

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.