Pines Wealth Management LLC Purchases New Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Pines Wealth Management LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,244 shares of the company’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Pathway Financial Advisers LLC lifted its stake in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC raised its stake in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after buying an additional 1,962,125 shares during the period. State Street Corp lifted its position in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. FMR LLC boosted its stake in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after acquiring an additional 1,087,163 shares during the period. Finally, Zacks Investment Management acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $80,207,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AEP. Wells Fargo & Company cut 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. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. BMO Capital Markets decreased their price target on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Up 0.7 %

Shares of AEP stock opened at $95.12 on Thursday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The stock’s fifty day moving average price is $94.52 and its two-hundred day moving average price is $96.78. 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 company has a market cap of $50.62 billion, a PE ratio of 19.06, a P/E/G ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

American Electric Power 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.