Wealth Enhancement Advisory Services LLC Acquires 564 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Wealth Enhancement Advisory Services LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 304,851 shares of the company’s stock after buying an additional 564 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of American Electric Power worth $28,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEP. Principal Financial Group Inc. lifted its position in shares of American Electric Power by 3.1% during the third quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after purchasing an additional 19,081 shares during the last quarter. New England Asset Management Inc. purchased a new position in American Electric Power in the 3rd quarter worth about $3,404,000. ING Groep NV lifted its holdings in American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in American Electric Power in the 3rd quarter valued at about $1,815,000. Finally, L & S Advisors Inc bought a new position in American Electric Power in the 2nd quarter worth about $2,398,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. 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 report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.57.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $93.51 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a market cap of $49.76 billion, a PE ratio of 18.74, a P/E/G ratio of 2.70 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The business has a 50-day simple moving average of $94.72 and a two-hundred day simple moving average of $96.63.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.98%. The ex-dividend date 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 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.