AdvisorNet Financial Inc Grows Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

AdvisorNet Financial Inc increased its stake in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,696 shares of the company’s stock after purchasing an additional 133 shares during the quarter. AdvisorNet Financial Inc’s holdings in American Electric Power were worth $341,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts have commented on AEP shares. Morgan Stanley reduced their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets reduced their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Evercore ISI lowered their target price 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. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, Barclays lowered 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 report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.00.

Check Out Our Latest Report on AEP

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $96.82 on Friday. The firm has a fifty day simple moving average of $94.50 and a two-hundred day simple moving average of $96.77. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $51.52 billion, a P/E ratio of 19.40, a PEG ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.84%. The ex-dividend date was Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

American Electric Power Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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