Allen Capital Group LLC Increases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Allen Capital Group LLC raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 115.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,225 shares of the company’s stock after purchasing an additional 4,951 shares during the quarter. Allen Capital Group LLC’s holdings in American Electric Power were worth $946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC grew its stake 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 purchasing an additional 103 shares in the last quarter. LRI Investments LLC grew its position in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc grew its position in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new position in shares of American Electric Power in the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of American Electric Power in the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $97.75 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.79 and a beta of 0.55. The stock’s fifty day simple moving average is $99.24 and its 200 day simple moving average is $95.40. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Evercore ISI decreased their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets reduced their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Barclays boosted their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $98.27.

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.