American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.2% in the fourth quarter, Holdings Channel reports. The firm owned 35,900 shares of the company’s stock after buying an additional 4,741 shares during the period. HB Wealth Management LLC’s holdings in American Electric Power were worth $3,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power in the 3rd quarter worth $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power in the 3rd quarter worth $48,000. Decker Retirement Planning Inc. purchased a new position in American Electric Power in the 4th quarter worth $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in American Electric Power in the 3rd quarter worth $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.4 %

AEP stock opened at $97.25 on Monday. 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 Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock has a market cap of $51.75 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. The business’s 50-day moving average is $94.52 and its 200 day moving average is $96.91.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.83%. This is a boost 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 presently 74.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Evercore ISI reduced their price objective 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. Barclays reduced their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley reduced their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.