Centre Asset Management LLC Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Centre Asset Management LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,721 shares of the company’s stock after purchasing an additional 267 shares during the period. Centre Asset Management LLC’s holdings in American Electric Power were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HHM Wealth Advisors LLC increased its position in 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. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new stake in American Electric Power in the 3rd quarter worth approximately $48,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in American Electric Power during the 3rd quarter worth approximately $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

NASDAQ:AEP traded up $0.68 during trading hours on Friday, hitting $92.62. 179,577 shares of the stock were exchanged, compared to its average volume of 948,430. The company has a market cap of $49.28 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.70 and a beta of 0.55. The firm’s fifty day moving average price is $95.46 and its 200 day moving average price is $96.39. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analysts Set New Price Targets

AEP has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on 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. Barclays decreased their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Evercore ISI cut their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $97.13.

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.