Ingalls & Snyder LLC Has $307,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Ingalls & Snyder LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 23.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,989 shares of the company’s stock after acquiring an additional 567 shares during the period. Ingalls & Snyder LLC’s holdings in American Electric Power were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEP. HHM Wealth Advisors LLC raised its holdings 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 worth $25,000 after acquiring an additional 103 shares during the period. LRI Investments LLC increased its stake in 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 last quarter. Briaud Financial Planning Inc lifted its position in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $48,000. Finally, Friedenthal Financial bought a new position in shares of American Electric Power in the 3rd quarter valued at about $50,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

AEP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, Morgan Stanley reduced their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. 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 stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $98.20.

American Electric Power Stock Down 1.2 %

Shares of American Electric Power stock opened at $97.02 on Wednesday. The stock’s 50-day moving average is $98.55 and its 200 day moving average is $95.89. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.83 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost 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 presently 74.55%.

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.