Northwest & Ethical Investments L.P. Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

by · The Markets Daily

Northwest & Ethical Investments L.P. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 31.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 225,992 shares of the company’s stock after acquiring an additional 54,671 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in American Electric Power were worth $23,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. LRI Investments LLC increased its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its holdings in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of American Electric Power during the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power during the third quarter worth about $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 0.6 %

Shares of American Electric Power stock traded up $0.56 during midday trading on Thursday, reaching $99.89. 1,558,645 shares of the company’s stock traded hands, compared to its average volume of 3,139,130. The stock has a 50 day moving average of $98.81 and a 200-day moving average of $95.67. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a market cap of $53.15 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.83 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AEP shares. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, Scotiabank upped their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $97.93.

Check Out Our Latest Research Report on AEP

American Electric Power 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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