Stephens Inc. AR Grows Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Stephens Inc. AR boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 11.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,054 shares of the company’s stock after buying an additional 3,885 shares during the period. Stephens Inc. AR’s holdings in American Electric Power were worth $4,007,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC increased its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. LRI Investments LLC grew its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc grew its holdings in American Electric Power by 52.1% during the 2nd 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 last quarter. Naples Money Management LLC acquired a new stake in American Electric Power during the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in American Electric Power during the 2nd quarter valued at $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Scotiabank increased their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays increased their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $97.25 on Friday. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The stock has a market capitalization of $51.75 billion, a P/E ratio of 19.37, a PEG ratio of 2.78 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The business’s fifty day moving average price is $100.68 and its 200 day moving average price is $94.45.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 dividend on an annualized basis and a yield of 3.83%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 74.10%.

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.