Great Valley Advisor Group Inc. Has $684,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Great Valley Advisor Group Inc. lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,662 shares of the company’s stock after purchasing an additional 455 shares during the period. Great Valley Advisor Group Inc.’s holdings in American Electric Power were worth $684,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Certified Advisory Corp increased its position in American Electric Power by 1.2% during the 3rd quarter. Certified Advisory Corp now owns 10,191 shares of the company’s stock valued at $1,046,000 after purchasing an additional 120 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at $509,000. Allen Capital Group LLC increased its position in shares of American Electric Power by 115.8% during the third quarter. Allen Capital Group LLC now owns 9,225 shares of the company’s stock worth $946,000 after buying an additional 4,951 shares during the period. CFS Investment Advisory Services LLC bought a new position in American Electric Power during the third quarter worth $463,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in American Electric Power by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock valued at $326,596,000 after buying an additional 51,467 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AEP. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company cut their price target 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. UBS Group lifted 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. Finally, Evercore ISI reduced their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.93.

American Electric Power Trading Up 1.3 %

Shares of American Electric Power stock opened at $99.33 on Wednesday. The company has a market capitalization of $52.86 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The stock has a fifty day simple moving average of $98.87 and a 200 day simple moving average of $95.64. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month 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.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.75%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 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.