Hollow Brook Wealth Management LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hollow Brook Wealth Management LLC raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 64,389 shares of the company’s stock after acquiring an additional 3,035 shares during the period. American Electric Power makes up approximately 2.0% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 17th biggest position. Hollow Brook Wealth Management LLC’s holdings in American Electric Power were worth $6,606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. LRI Investments LLC lifted 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 worth $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc boosted its holdings in shares of American Electric Power by 52.1% during the 2nd 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 last quarter. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power in the third quarter worth about $48,000. Finally, Friedenthal Financial bought a new position in American Electric Power during the third quarter valued at approximately $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $99.86 on Monday. 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 firm has a market cap of $53.14 billion, a PE ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. 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 fifty day moving average of $98.72 and a 200 day moving average of $95.82.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets decreased their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Scotiabank upped their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $97.93.

American Electric Power Company 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.