52,778 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 52,778 shares of the company’s stock, valued at approximately $4,868,000.

Other institutional investors and hedge funds have also modified their holdings of the company. XML Financial LLC boosted its holdings in American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. PSI Advisors LLC lifted its holdings in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after buying an additional 107 shares during the period. Garrison Asset Management LLC boosted its stake in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the last quarter. Roanoke Asset Management Corp NY boosted its stake in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the last quarter. Finally, First United Bank & Trust grew its holdings in shares of American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after acquiring an additional 112 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.4 %

Shares of AEP stock opened at $97.25 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The stock’s 50-day moving average price is $94.52 and its 200-day moving average price is $96.91.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.83%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of recent research reports. Evercore ISI cut their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. 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 report on Friday, November 22nd. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, Barclays decreased their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.