Austin Private Wealth LLC Invests $213,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Austin Private Wealth LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,076 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors have also recently made changes to their positions in AEP. Quantbot Technologies LP purchased a new stake in American Electric Power in the 1st quarter worth approximately $1,731,000. Mizuho Markets Americas LLC grew its holdings in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after buying an additional 226,435 shares in the last quarter. ProShare Advisors LLC grew its holdings in American Electric Power by 21.7% during the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after buying an additional 103,771 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in American Electric Power by 60.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock valued at $4,285,000 after buying an additional 18,726 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in American Electric Power by 17.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock valued at $57,197,000 after buying an additional 96,645 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets increased their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Barclays increased their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Up 2.0 %

NASDAQ:AEP opened at $100.40 on Wednesday. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The company has a market cap of $53.42 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The stock has a fifty day simple moving average of $100.67 and a 200-day simple moving average of $94.65. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

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.