Prossimo Advisors LLC Acquires New Shares in American Electric Power Company, Inc. (NASDAQ:AEP)

Prossimo Advisors LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,627 shares of the company’s stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. LRI Investments LLC bought a new position in shares of American Electric Power during the 1st quarter valued at $37,000. Briaud Financial Planning Inc lifted its holdings in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the period. Reston Wealth Management LLC bought a new position in shares of American Electric Power during the 3rd quarter valued at $48,000. Finally, Friedenthal Financial bought a new position in shares of American Electric Power during the 3rd quarter valued at $50,000. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AEP. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Barclays raised their target price on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets raised their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.43.

American Electric Power Trading Down 1.5 %

Shares of American Electric Power stock opened at $97.25 on Friday. The firm has a market cap of $51.75 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.78 and a beta of 0.55. The business has a 50-day moving average price of $100.68 and a 200-day moving average price of $94.45. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. American Electric Power’s dividend payout ratio (DPR) is presently 74.10%.

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.