Kingsview Wealth Management LLC Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Kingsview Wealth Management LLC lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 31.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,332 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Kingsview Wealth Management LLC’s holdings in American Electric Power were worth $2,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AEP. Advisors Asset Management Inc. lifted its position in shares of American Electric Power by 7.0% in the first quarter. Advisors Asset Management Inc. now owns 15,635 shares of the company’s stock valued at $1,346,000 after acquiring an additional 1,024 shares in the last quarter. LRI Investments LLC acquired a new position in American Electric Power in the 1st quarter valued at $37,000. Price T Rowe Associates Inc. MD lifted its holdings in American Electric Power by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 724,504 shares of the company’s stock valued at $62,381,000 after purchasing an additional 12,894 shares in the last quarter. Tidal Investments LLC boosted its stake in American Electric Power by 5.8% during the 1st quarter. Tidal Investments LLC now owns 13,103 shares of the company’s stock worth $1,126,000 after purchasing an additional 724 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of American Electric Power by 4.5% during the first quarter. iA Global Asset Management Inc. now owns 49,441 shares of the company’s stock worth $4,257,000 after buying an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AEP shares. Evercore ISI dropped their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Bank of America increased their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. BMO Capital Markets cut their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Up 0.5 %

Shares of NASDAQ AEP opened at $98.10 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $98.97 and its two-hundred day moving average is $95.59. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market cap of $52.20 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.82 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 dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.79%. American Electric Power’s dividend payout ratio is presently 74.55%.

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.