Golden State Wealth Management LLC Takes $852,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Golden State Wealth Management LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,236 shares of the company’s stock, valued at approximately $852,000.

Other large investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its holdings in shares of American Electric Power by 6.1% in the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after purchasing an additional 3,288 shares during the last quarter. Secure Asset Management LLC grew its stake in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after buying an additional 4,370 shares during the last quarter. Grove Bank & Trust raised its holdings in American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after acquiring an additional 5,771 shares during the period. J2 Capital Management Inc acquired a new stake in American Electric Power during the fourth quarter worth approximately $419,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after acquiring an additional 19,081 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.8 %

Shares of AEP opened at $100.17 on Friday. The firm has a 50 day simple moving average of $95.10 and a two-hundred day simple moving average of $97.70. The company has a market cap of $53.30 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.79 and a beta of 0.58. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AEP shares. Barclays lowered their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Evercore ISI decreased their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target 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.