SG Americas Securities LLC Buys 53,429 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

SG Americas Securities LLC raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 304.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,998 shares of the company’s stock after purchasing an additional 53,429 shares during the quarter. SG Americas Securities LLC’s holdings in American Electric Power were worth $6,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Grove Bank & Trust raised its stake in American Electric Power by 436.9% in the fourth quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after buying an additional 5,771 shares during the period. J2 Capital Management Inc acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $419,000. Principal Financial Group Inc. raised its stake in American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after acquiring an additional 19,081 shares during the period. New England Asset Management Inc. acquired a new stake in American Electric Power during the 3rd quarter valued at $3,404,000. Finally, ING Groep NV increased its holdings in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after purchasing an additional 208,974 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.7 %

Shares of American Electric Power stock opened at $98.18 on Friday. The firm’s 50-day moving average price is $94.83 and its two-hundred day moving average price is $97.12. The company has a market capitalization of $52.24 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.77 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AEP shares. Morgan Stanley cut 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 note on Friday, November 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, BMO Capital Markets lowered their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.