SeaCrest Wealth Management LLC Purchases 282 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

SeaCrest Wealth Management LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,221 shares of the company’s stock after purchasing an additional 282 shares during the period. SeaCrest Wealth Management LLC’s holdings in American Electric Power were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AEP. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new stake in shares of American Electric Power during the third quarter worth about $48,000. Future Financial Wealth Managment LLC bought a new stake in shares of American Electric Power during the third quarter worth about $50,000. Finally, Friedenthal Financial acquired a new position in shares of American Electric Power in the third quarter worth approximately $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $95.12 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The stock’s 50 day moving average is $94.52 and its 200-day moving average is $96.78. The firm has a market capitalization of $50.62 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently announced 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 represents a $3.72 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEP. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. BMO Capital Markets cut their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.00.

About American Electric Power

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.