Benjamin Edwards Inc. Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Benjamin Edwards Inc. grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 29.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,405 shares of the company’s stock after acquiring an additional 15,358 shares during the quarter. Benjamin Edwards Inc.’s holdings in American Electric Power were worth $7,026,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its holdings 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 acquiring an additional 103 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc boosted its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of American Electric Power in the second quarter worth approximately $48,000. Finally, Reston Wealth Management LLC purchased a new position in shares of American Electric Power in the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research reports. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price target on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley lowered their price target 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, JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $98.20.

American Electric Power Trading Down 1.6 %

American Electric Power stock opened at $98.22 on Tuesday. The stock has a market cap of $52.26 billion, a P/E ratio of 19.68, a PEG ratio of 2.88 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 Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The firm’s 50 day moving average price is $98.72 and its 200-day moving average price is $95.82.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.