American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 115.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,225 shares of the company’s stock after purchasing an additional 4,951 shares during the quarter. Allen Capital Group LLC’s holdings in American Electric Power were worth $946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HHM Wealth Advisors LLC grew its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares in the last quarter. XML Financial LLC grew its stake in American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after purchasing an additional 106 shares in the last quarter. Garrison Asset Management LLC grew its stake in American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its position in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ:AEP opened at $97.75 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a fifty day moving average price of $99.24 and a 200 day moving average price of $95.40. The stock has a market cap of $52.01 billion, a P/E ratio of 19.59, a PEG ratio of 2.79 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.81%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent research reports. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Evercore ISI decreased their price objective 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. Finally, Barclays raised 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.27.

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.