Jackson Grant Investment Advisers Inc. Purchases 402 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Jackson Grant Investment Advisers Inc. raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,597 shares of the company’s stock after buying an additional 402 shares during the period. Jackson Grant Investment Advisers Inc.’s holdings in American Electric Power were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the 3rd quarter valued at $33,000. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power during the 3rd quarter valued at $48,000. Friedenthal Financial bought a new stake in shares of American Electric Power during the 3rd quarter worth $50,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power in the 3rd quarter worth about $50,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 1.5 %

AEP stock opened at $99.39 on Thursday. The stock has a 50-day simple moving average of $95.10 and a two-hundred day simple moving average of $97.67. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a market capitalization of $52.89 billion, a PE ratio of 19.92, a PEG ratio of 2.79 and a beta of 0.58. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AEP. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Barclays dropped their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. BMO Capital Markets decreased their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus target price of $98.00.

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.