Grove Bank & Trust increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 436.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,092 shares of the company's stock after acquiring an additional 5,771 shares during the period. Grove Bank & Trust's holdings in American Electric Power were worth $654,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of American Electric Power in the third quarter worth $33,000. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at about $48,000. Friedenthal Financial bought a new position in American Electric Power in the third quarter worth approximately $50,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in American Electric Power in the 3rd quarter worth approximately $50,000. 75.24% of the stock is currently owned by institutional investors.
American Electric Power Trading Up 0.4 %
Shares of NASDAQ AEP traded up $0.43 during midday trading on Monday, reaching $97.25. 2,728,461 shares of the stock were exchanged, compared to its average volume of 2,164,280. 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 50 day moving average price of $94.52 and a 200-day moving average price of $96.97. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $51.75 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.58 and a beta of 0.56.
American Electric Power Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.93 dividend. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.83%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a report on Tuesday, November 26th. UBS Group upped their price objective on 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 price objective 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. reissued a "neutral" rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, BMO Capital Markets cut their price target on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power has an average rating of "Hold" and a consensus price target of $98.00.
View Our Latest Research Report on AEP
American Electric Power Profile
(
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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