HB Wealth Management LLC Acquires 4,741 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

HB Wealth Management LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,900 shares of the company's stock after purchasing an additional 4,741 shares during the period. HB Wealth Management LLC's holdings in American Electric Power were worth $3,311,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Premier Path Wealth Partners LLC raised its holdings in shares of American Electric Power by 10.0% in the 4th quarter. Premier Path Wealth Partners LLC now owns 6,650 shares of the company's stock valued at $613,000 after purchasing an additional 602 shares during the period. Sanibel Captiva Trust Company Inc. grew its holdings in American Electric Power by 49.0% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,523 shares of the company's stock valued at $509,000 after buying an additional 1,817 shares in the last quarter. Alhambra Investment Management LLC lifted its holdings in shares of American Electric Power by 6.2% during the fourth quarter. Alhambra Investment Management LLC now owns 3,411 shares of the company's stock worth $315,000 after buying an additional 200 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its position in shares of American Electric Power by 3.7% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company's stock valued at $286,000 after acquiring an additional 112 shares during the period. Finally, Brooklyn Investment Group raised its position in shares of American Electric Power by 5.9% in the fourth quarter. Brooklyn Investment Group now owns 3,490 shares of the company's stock valued at $322,000 after buying an additional 194 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Up 0.4 %

NASDAQ AEP traded up $0.43 during mid-day trading on Monday, hitting $97.25. The company's stock had a trading volume of 2,728,461 shares, compared to its average volume of 2,164,280. 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 simple moving average is $94.52 and its 200 day simple moving average is $96.97. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.83%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power's payout ratio is currently 74.55%.

Analysts Set New Price Targets

AEP has been the topic of a number of recent research reports. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. UBS Group lifted their price objective 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. Evercore ISI cut their target price on American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company 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 for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.00.

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.