American Electric Power Company, Inc. (NASDAQ:AEP) Stock Position Raised by Summit Trail Advisors LLC

by · The Cerbat Gem

Summit Trail Advisors LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,513 shares of the company’s stock after purchasing an additional 509 shares during the period. Summit Trail Advisors LLC’s holdings in American Electric Power were worth $463,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% in the 2nd 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 American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the period. Briaud Financial Planning Inc increased its stake in 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 buying an additional 150 shares during the period. Naples Money Management LLC purchased a new stake in American Electric Power in the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the 2nd quarter valued at $48,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Up 1.3 %

Shares of AEP stock opened at $99.33 on Wednesday. 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 quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a market cap of $52.86 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The stock has a 50 day moving average of $98.87 and a 200-day moving average of $95.64.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.75%. American Electric Power’s dividend payout ratio is 74.55%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AEP. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets lowered their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Morgan Stanley cut their price objective on shares of 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. Finally, Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $97.93.

Get Our Latest Analysis on AEP

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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