Smithfield Trust Co Purchases 255 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

by · The Markets Daily

Smithfield Trust Co raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 52.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 737 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Smithfield Trust Co’s holdings in American Electric Power were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

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

American Electric Power Trading Up 1.0 %

Shares of American Electric Power stock opened at $97.75 on Friday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. 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 company has a market capitalization of $52.01 billion, a P/E ratio of 19.59, a PEG ratio of 2.79 and a beta of 0.55. The company’s fifty day moving average is $99.24 and its two-hundred day moving average is $95.40.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.81%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AEP shares. 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. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Barclays raised their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.27.

Get Our Latest Research Report on American Electric Power

American Electric Power Company Profile

(Free Report)

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.

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