Oppenheimer & Co. Inc. Buys 6,431 Shares of American Electric Power Company, Inc. $AEP

Oppenheimer & Co. Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.4% in the 3rd quarter, Holdings Channel reports. The firm owned 58,338 shares of the company’s stock after buying an additional 6,431 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in American Electric Power were worth $6,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of American Electric Power during the third quarter valued at $26,000. Harbor Capital Advisors Inc. acquired a new position in shares of American Electric Power during the third quarter worth approximately $26,000. Advantage Trust Co lifted its position in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Montag A & Associates Inc. grew its stake in shares of American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Finally, Osterweis Capital Management Inc. increased its holdings in shares of American Electric Power by 3,000.0% in the second quarter. Osterweis Capital Management Inc. now owns 310 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.1%

NASDAQ AEP opened at $121.23 on Wednesday. American Electric Power Company, Inc. has a 12 month low of $97.46 and a 12 month high of $124.80. The stock has a 50-day simple moving average of $117.08 and a 200 day simple moving average of $115.68. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $64.75 billion, a PE ratio of 17.67, a P/E/G ratio of 2.89 and a beta of 0.62.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. American Electric Power’s dividend payout ratio is 55.39%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AEP shares. Scotiabank upped their price objective on American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 16th. Williams Trading set a $137.00 price objective on American Electric Power in a research report on Thursday, December 18th. Jefferies Financial Group raised American Electric Power from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $128.00 to $137.00 in a report on Monday, November 17th. Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Moderate Buy” and an average target price of $127.39.

Insider Buying and Selling at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the transaction, the director owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.