Leslie Global Wealth LLC Takes $243,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Leslie Global Wealth LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,366 shares of the company’s stock, valued at approximately $243,000.

A number of other hedge funds have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during 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 in the last quarter. LRI Investments LLC purchased a new position in American Electric Power during the 1st quarter worth $37,000. Briaud Financial Planning Inc increased its position in American Electric Power by 52.1% during 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 in the last quarter. Reston Wealth Management LLC purchased a new stake in American Electric Power in the third quarter valued at about $48,000. Finally, Friedenthal Financial acquired a new stake in American Electric Power in the third quarter worth about $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 2.0 %

Shares of NASDAQ:AEP opened at $100.40 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The business has a 50 day moving average of $100.67 and a two-hundred day moving average of $94.65. The company has a market capitalization of $53.42 billion, a PE ratio of 20.00, a PEG 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. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is currently 70.12%.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. BMO Capital Markets upped their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.43.

American Electric Power Company 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.