Allen Capital Group LLC Has $2.82 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Allen Capital Group LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 231.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,613 shares of the company’s stock after acquiring an additional 21,388 shares during the period. Allen Capital Group LLC’s holdings in American Electric Power were worth $2,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in American Electric Power during the 3rd quarter valued at about $48,000. Friedenthal Financial bought a new stake in American Electric Power during the 3rd quarter worth approximately $50,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AEP. UBS Group lifted their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Finally, Morgan Stanley cut their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Price Performance

AEP stock opened at $100.07 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a market cap of $53.25 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.77 and a beta of 0.56. The firm’s fifty day moving average is $95.06 and its 200 day moving average is $97.47. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.72%. American Electric Power’s dividend payout ratio is currently 74.55%.

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.