IHT Wealth Management LLC Has $2.02 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

IHT Wealth Management LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 152.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,750 shares of the company’s stock after buying an additional 11,936 shares during the quarter. IHT Wealth Management LLC’s holdings in American Electric Power were worth $2,024,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. OLD National Bancorp IN boosted its stake in American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock worth $10,572,000 after purchasing an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in American Electric Power by 13.2% in the second quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $3,730,000 after purchasing an additional 4,971 shares in the last quarter. New England Asset Management Inc. acquired a new position in American Electric Power in the third quarter worth $3,404,000. Assenagon Asset Management S.A. boosted its stake in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Finally, ING Groep NV boosted its stake in American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Down 0.8 %

NASDAQ:AEP opened at $96.25 on Thursday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $51.22 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.83 and a beta of 0.55. The stock has a 50-day moving average price of $98.45 and a two-hundred day moving average price of $95.89.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Barclays dropped their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Morgan Stanley dropped their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. UBS Group boosted 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. Finally, Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $98.20.

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.