American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Graypoint LLC

Graypoint LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,070 shares of the company’s stock after buying an additional 220 shares during the quarter. Graypoint LLC’s holdings in American Electric Power were worth $520,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC increased its holdings in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in American Electric Power by 2.0% in the 2nd 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. Garrison Asset Management LLC raised its holdings in American Electric Power by 0.6% during the third 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 during the last quarter. Roanoke Asset Management Corp NY boosted its position in American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares in the last quarter. Finally, Bank of Stockton grew its holdings in American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.0 %

Shares of NASDAQ:AEP opened at $96.40 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $51.30 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.81 and a beta of 0.55. The stock’s 50-day moving average price is $100.59 and its two-hundred day moving average price is $94.79. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is currently 70.12%.

Wall Street Analyst Weigh In

AEP has been the subject of several research reports. Morgan Stanley lifted their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday. Bank of America increased their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.27.

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.