Creative Financial Designs Inc. ADV Has $291,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Creative Financial Designs Inc. ADV boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,838 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in American Electric Power were worth $291,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Stephens Inc. AR raised its holdings in American Electric Power by 11.0% in the third quarter. Stephens Inc. AR now owns 39,054 shares of the company’s stock worth $4,007,000 after purchasing an additional 3,885 shares during the period. LCM Capital Management Inc bought a new stake in shares of American Electric Power in the 3rd quarter valued at $204,000. Reston Wealth Management LLC acquired a new stake in American Electric Power during the 3rd quarter worth $48,000. Baron Silver Stevens Financial Advisors LLC bought a new position in American Electric Power during the third quarter worth about $203,000. Finally, JFS Wealth Advisors LLC grew its stake in American Electric Power by 521.8% in the third quarter. JFS Wealth Advisors LLC now owns 8,326 shares of the company’s stock valued at $854,000 after acquiring an additional 6,987 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AEP. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets increased their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Down 1.5 %

NASDAQ:AEP opened at $97.25 on Monday. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The firm has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock’s 50 day moving average price is $100.68 and its two-hundred day moving average price is $94.54.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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. This represents a $3.72 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is 70.12%.

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.