3,372 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 3,372 shares of the company’s stock, valued at approximately $346,000.

Other hedge funds have also added to or reduced their stakes in the company. Norden Group LLC bought a new position in shares of American Electric Power during the 1st quarter worth $419,000. Diversify Advisory Services LLC bought a new position in American Electric Power during the first quarter worth about $246,000. Central Pacific Bank Trust Division purchased a new position in shares of American Electric Power in the first quarter worth about $283,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of American Electric Power by 25.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,417 shares of the company’s stock valued at $1,069,000 after purchasing an additional 2,533 shares during the period. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of American Electric Power during the 1st quarter valued at approximately $90,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.2 %

Shares of AEP stock opened at $98.40 on Tuesday. The business has a 50-day moving average of $100.67 and a 200 day moving average of $94.65. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a 1-year low of $74.97 and a 1-year high of $105.18. The stock has a market capitalization of $52.36 billion, a PE ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.78%. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

Analyst Ratings Changes

AEP has been the subject of a number of recent research reports. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Guggenheim raised their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America boosted their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Profile

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.