Bleakley Financial Group LLC Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Bleakley Financial Group LLC increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,529 shares of the company’s stock after buying an additional 977 shares during the period. Bleakley Financial Group LLC’s holdings in American Electric Power were worth $1,709,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. XML Financial LLC increased its holdings in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after acquiring an additional 106 shares during the last quarter. PSI Advisors LLC boosted its position in American Electric Power by 10.6% during the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after purchasing an additional 107 shares during the period. Garrison Asset Management LLC increased its stake in shares of American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY raised its position in shares of American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the period. Finally, First United Bank & Trust boosted its holdings in American Electric Power by 17.1% in the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after buying an additional 112 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.2 %

Shares of AEP opened at $100.35 on Friday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a 50 day simple moving average of $95.10 and a two-hundred day simple moving average of $97.70. The firm has a market cap of $53.40 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.79 and a beta of 0.58.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets reduced their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Barclays lowered their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Finally, Evercore ISI reduced their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. One equities research analyst has 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.00.

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.