Empirical Asset Management LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 86,981 shares of the company's stock, valued at approximately $8,022,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power during the third quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power during the 3rd quarter valued at about $33,000. Reston Wealth Management LLC bought a new stake in American Electric Power during the 3rd quarter valued at about $48,000. Future Financial Wealth Managment LLC purchased a new position in American Electric Power in the third quarter worth about $50,000. Finally, Friedenthal Financial bought a new position in shares of American Electric Power in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Stock Performance
AEP stock traded up $0.43 during midday trading on Friday, reaching $97.25. 2,728,461 shares of the company's stock traded hands, compared to its average volume of 3,400,760. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The stock has a market cap of $51.75 billion, a P/E ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. The stock's 50-day moving average is $94.51 and its 200 day moving average is $96.77.
American Electric Power Increases Dividend
The business 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. This represents a $3.72 annualized dividend and a yield of 3.83%. The ex-dividend date was Friday, November 8th. 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%.
Analysts Set New Price Targets
Several brokerages recently weighed in on AEP. UBS Group raised their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lowered their price target on 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. Bank of America upgraded American Electric Power from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from $98.00 to $104.00 in a report on Monday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.00.
Read Our Latest Research Report on American Electric Power
About American Electric Power
(
Free Report)
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.
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