American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Verity Asset Management Inc.

Verity Asset Management Inc. raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,971 shares of the company’s stock after purchasing an additional 724 shares during the period. Verity Asset Management Inc.’s holdings in American Electric Power were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $33,000. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $48,000. Friedenthal Financial acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $50,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of American Electric Power during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group raised their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Evercore ISI dropped 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 note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Down 1.5 %

Shares of AEP stock opened at $97.88 on Wednesday. The business’s fifty day moving average price is $95.13 and its 200 day moving average price is $97.64. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a market capitalization of $52.08 billion, a PE ratio of 19.62, a P/E/G ratio of 2.79 and a beta of 0.58. 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 Dividend Announcement

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 issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 74.55%.

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.