Sfmg LLC Invests $221,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Sfmg LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel.com reports. The firm bought 2,150 shares of the company’s stock, valued at approximately $221,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in American Electric Power in the third quarter valued at $25,000. HHM Wealth Advisors LLC grew its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power in the 3rd quarter valued at about $33,000. LRI Investments LLC raised its stake in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc raised its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AEP. Wells Fargo & Company dropped their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a research report on Thursday. Bank of America upped their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets raised their target price on shares of American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average price target of $97.13.

American Electric Power Stock Performance

NASDAQ AEP opened at $92.85 on Friday. The business has a 50 day moving average price of $97.65 and a 200 day moving average price of $96.03. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a market capitalization of $49.41 billion, a P/E ratio of 18.61, a PEG ratio of 2.77 and a beta of 0.55. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s 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.