American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 898,732 shares of the company’s stock after acquiring an additional 18,135 shares during the quarter. Stifel Financial Corp’s holdings in American Electric Power were worth $92,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC raised its stake in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at $33,000. LRI Investments LLC raised its stake in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc raised its stake in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in shares of American Electric Power in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP stock opened at $97.45 on Friday. The firm has a market cap of $51.86 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.80 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a fifty day moving average of $98.39 and a two-hundred day moving average of $95.90.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.82%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Ratings Changes

A number of brokerages have recently commented on AEP. Scotiabank raised their target price on shares of 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. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company dropped their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, BMO Capital Markets lifted their price target on shares of American Electric Power from $104.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.20.

American Electric Power Company 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.