Aviance Capital Partners LLC Grows Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Aviance Capital Partners LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 35.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,647 shares of the company’s stock after purchasing an additional 2,508 shares during the period. Aviance Capital Partners LLC’s holdings in American Electric Power were worth $990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC raised its stake in 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 buying an additional 103 shares during the last quarter. LRI Investments LLC purchased a new position in shares of American Electric Power in the 1st quarter worth about $37,000. Briaud Financial Planning Inc boosted its stake in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in American Electric Power during the 3rd quarter valued at about $48,000. Finally, Friedenthal Financial bought a new stake in American Electric Power during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.2 %

Shares of AEP stock opened at $96.70 on Wednesday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The firm has a fifty day moving average price of $99.47 and a 200-day moving average price of $95.38. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.78 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.85%. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the topic of several analyst reports. BMO Capital Markets dropped their target price 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 increased their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI reduced their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.27.

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.