Pines Wealth Management LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,244 shares of the company's stock, valued at approximately $303,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power during the third quarter valued at $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power in the 3rd quarter worth $48,000. Friedenthal Financial bought a new stake in shares of American Electric Power in the 3rd quarter worth about $50,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at about $50,000. Institutional investors own 75.24% of the company's stock.
American Electric Power Trading Up 1.8 %
Shares of NASDAQ AEP traded up $1.67 during trading hours on Thursday, reaching $96.79. The stock had a trading volume of 1,331,867 shares, compared to its average volume of 3,343,145. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.58 and a beta of 0.56. The business's fifty day moving average price is $94.50 and its two-hundred day moving average price is $96.77. 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 Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.84%. American Electric Power's dividend payout ratio is presently 74.55%.
Wall Street Analyst Weigh In
AEP has been the topic of several analyst reports. Scotiabank cut American Electric Power from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. 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. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They issued a "hold" rating and a $107.00 price target for the company. BMO Capital Markets cut their price objective on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Finally, Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" 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 assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $98.00.
Read Our Latest Analysis 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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