Cassaday & Co Wealth Management LLC Buys 702 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Cassaday & Co Wealth Management LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,673 shares of the company’s stock after acquiring an additional 702 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in American Electric Power were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its stake in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC purchased a new position in shares of American Electric Power during the first quarter valued at about $37,000. Briaud Financial Planning Inc increased its holdings 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 worth $38,000 after purchasing an additional 150 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of American Electric Power in the third quarter worth about $48,000. Finally, Friedenthal Financial purchased a new stake in shares of American Electric Power in the third quarter worth about $50,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP stock opened at $96.49 on Tuesday. The firm’s 50-day moving average is $99.60 and its two-hundred day moving average is $95.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. 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 capitalization of $51.34 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target 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. Evercore ISI reduced their price objective on 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. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.27.

About American Electric Power

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.