2,056 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Principal Street Partners LLC

Principal Street Partners LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,056 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AEP. HHM Wealth Advisors LLC increased its holdings 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 in the last quarter. LRI Investments LLC increased its stake in shares of 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 boosted its holdings in 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 acquiring an additional 150 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth approximately $48,000. Finally, Friedenthal Financial acquired a new stake in shares of American Electric Power during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP opened at $99.33 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The stock has a market capitalization of $52.86 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.82 and a beta of 0.55. The company has a 50 day moving average of $98.87 and a 200-day moving average of $95.64.

American Electric Power Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Barclays lowered their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $97.93.

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.