American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Providence Capital Advisors LLC

by · The Markets Daily

Providence Capital Advisors LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,069 shares of the company’s stock after acquiring an additional 287 shares during the quarter. Providence Capital Advisors LLC’s holdings in American Electric Power were worth $4,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC increased its stake 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 valued at $25,000 after purchasing an additional 103 shares during the period. LRI Investments LLC increased its stake in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. Briaud Financial Planning Inc increased its stake in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Naples Money Management LLC acquired a new stake in shares of American Electric Power in the second quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.6 %

Shares of NASDAQ:AEP opened at $99.89 on Thursday. The stock has a market capitalization of $53.15 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.83 and a beta of 0.55. 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 50 day moving average price of $98.81 and a 200 day moving average price of $95.67.

American Electric Power Increases Dividend

The company also recently disclosed 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. This represents a $3.72 annualized dividend and a 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 payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AEP shares. Evercore ISI dropped their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, BMO Capital Markets decreased their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.93.

Read Our Latest Analysis on American Electric Power

About American Electric Power

(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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