Marco Investment Management LLC Takes $219,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Marco Investment Management LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,136 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC raised its stake 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 valued at $25,000 after acquiring an additional 103 shares during the last quarter. LRI Investments LLC acquired a new stake in American Electric Power in the first quarter valued at $37,000. Briaud Financial Planning Inc increased 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 purchasing an additional 150 shares during the period. Reston Wealth Management LLC bought a new position in American Electric Power during the 3rd quarter worth $48,000. Finally, Friedenthal Financial acquired a new position in American Electric Power during the 3rd quarter worth about $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Down 0.5 %

NASDAQ AEP opened at $97.59 on Monday. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The business has a 50 day moving average price of $99.11 and a 200-day moving average price of $95.54. 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 company has a market cap of $51.93 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.83 and a beta of 0.55.

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 issued a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI decreased their price target on 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. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.00.

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.