GS Investments Inc. Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

GS Investments Inc. grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 93.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,409 shares of the company's stock after purchasing an additional 10,359 shares during the quarter. GS Investments Inc.'s holdings in American Electric Power were worth $2,197,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. HHM Wealth Advisors LLC boosted its stake in 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 acquiring an additional 103 shares during the last quarter. LRI Investments LLC increased its position in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company's stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its stake in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock valued at $38,000 after buying an additional 150 shares during the period. Naples Money Management LLC purchased a new position in shares of American Electric Power during the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 1.0 %

Shares of AEP stock traded up $0.95 during midday trading on Thursday, reaching $97.75. 1,539,428 shares of the stock were exchanged, compared to its average volume of 3,153,675. The firm has a market cap of $52.01 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55. 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's 50 day moving average is $99.24 and its two-hundred day moving average is $95.40. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's payout ratio is 74.55%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEP. Scotiabank increased their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th. Bank of America lifted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 target price on the stock. BMO Capital Markets reduced their price objective on shares of American Electric Power from $111.00 to $104.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.27.

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.