Pines Wealth Management LLC Invests $303,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Pines Wealth Management LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,244 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in American Electric Power by 3.1% in the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the last quarter. New England Asset Management Inc. acquired a new position in shares of American Electric Power in the third quarter valued at approximately $3,404,000. ING Groep NV raised its holdings in American Electric Power by 244.3% in the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in American Electric Power during the 3rd quarter worth approximately $1,815,000. Finally, Executive Wealth Management LLC bought a new stake in American Electric Power during the 3rd quarter worth approximately $1,788,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $95.12 on Thursday. The firm has a market capitalization of $50.62 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.70 and a beta of 0.56. The firm’s 50-day moving average price is $94.52 and its 200-day moving average price is $96.78. 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 Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.91%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AEP. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Evercore ISI reduced 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. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.00.

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.