7,627 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by Prossimo Advisors LLC

Prossimo Advisors LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,627 shares of the company’s stock, valued at approximately $783,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC grew its position in American Electric Power by 18.9% in the third quarter. Princeton Global Asset Management LLC now owns 1,471 shares of the company’s stock worth $151,000 after acquiring an additional 234 shares in the last quarter. James Investment Research Inc. lifted its stake in American Electric Power by 1.3% in the third quarter. James Investment Research Inc. now owns 39,220 shares of the company’s stock worth $4,024,000 after purchasing an additional 494 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in American Electric Power by 3.2% in the third quarter. Farther Finance Advisors LLC now owns 7,242 shares of the company’s stock worth $743,000 after purchasing an additional 224 shares during the last quarter. Roanoke Asset Management Corp NY lifted its stake in American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares during the last quarter. Finally, Shepherd Financial Partners LLC bought a new stake in American Electric Power in the third quarter worth about $207,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ AEP opened at $97.25 on Friday. The firm’s fifty day simple moving average is $100.68 and its two-hundred day simple moving average is $94.45. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The firm has a market capitalization of $51.75 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is currently 74.10%.

Analyst Ratings Changes

Several analysts have issued reports on AEP shares. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.43.

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.