American Electric Power Company, Inc. (NASDAQ:AEP) Stake Boosted by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,008 shares of the company’s stock after buying an additional 564 shares during the period. CreativeOne Wealth LLC’s holdings in American Electric Power were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AEP. OLD National Bancorp IN lifted its position in shares of American Electric Power by 14.4% in the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after acquiring an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC raised its stake in American Electric Power by 13.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after purchasing an additional 4,971 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after purchasing an additional 419,870 shares in the last quarter. New England Asset Management Inc. acquired a new stake in shares of American Electric Power in the third quarter worth $3,404,000. Finally, ING Groep NV grew its holdings in shares of American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.0 %

Shares of AEP stock opened at $99.86 on Friday. The stock’s 50 day simple moving average is $98.72 and its 200 day simple moving average is $95.76. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market capitalization of $53.14 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. 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 dividend on an annualized basis and a dividend yield of 3.73%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. JPMorgan Chase & Co. increased their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. BMO Capital Markets dropped their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their target price on shares of 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, Barclays dropped their price target 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. Two research 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’s stock. According to data from MarketBeat, American Electric Power 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.