Benjamin Edwards Inc. raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 29.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,405 shares of the company's stock after acquiring an additional 15,358 shares during the quarter. Benjamin Edwards Inc.'s holdings in American Electric Power were worth $7,026,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC raised its stake 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 worth $25,000 after purchasing an additional 103 shares during the last quarter. E Fund Management Co. Ltd. raised its position in American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company's stock valued at $464,000 after buying an additional 105 shares during the last quarter. XML Financial LLC lifted its stake in American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company's stock valued at $300,000 after acquiring an additional 106 shares in the last quarter. Garrison Asset Management LLC boosted its holdings in American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock worth $1,950,000 after acquiring an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY grew its stake in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock worth $516,000 after acquiring an additional 110 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently weighed in on AEP. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a report on Thursday, November 7th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Finally, Barclays lowered their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and a consensus target price of $98.20.
View Our Latest Research Report on AEP
American Electric Power Price Performance
Shares of AEP traded down $0.43 during midday trading on Tuesday, hitting $97.79. 469,019 shares of the company traded hands, compared to its average volume of 3,115,427. The stock has a 50-day moving average of $98.72 and a 200-day moving average of $95.82. 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 Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The firm has a market cap of $52.04 billion, a P/E ratio of 19.68, a PEG ratio of 2.88 and a beta of 0.55.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.80%. This is a boost from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's dividend payout ratio is presently 74.55%.
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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