Empowered Funds LLC Acquires 5,148 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Empowered Funds LLC raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,960 shares of the company’s stock after buying an additional 5,148 shares during the quarter. Empowered Funds LLC’s holdings in American Electric Power were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. raised its position in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares in the last quarter. XML Financial LLC lifted its stake in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. Garrison Asset Management LLC boosted its holdings in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its position in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AEP shares. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. UBS Group upped their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Guggenheim upped their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Price Performance

AEP opened at $96.31 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock has a market capitalization of $51.25 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The stock’s 50 day moving average price is $99.74 and its 200-day moving average price is $95.26. 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 disclosed 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. The ex-dividend date is Friday, November 8th. 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 3.86%. American Electric Power’s dividend payout ratio is 74.55%.

About American Electric Power

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.