Thrivent Financial for Lutherans Purchases 1,131 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Thrivent Financial for Lutherans raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,874 shares of the company’s stock after acquiring an additional 1,131 shares during the quarter. Thrivent Financial for Lutherans’ holdings in American Electric Power were worth $2,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HHM Wealth Advisors LLC raised its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. LRI Investments LLC boosted its stake in American Electric Power by 935.9% in the second 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 last quarter. Briaud Financial Planning Inc grew its position 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 acquiring an additional 150 shares during the period. Naples Money Management LLC purchased a new stake in shares of American Electric Power during the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power in the 2nd quarter worth approximately $48,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

NASDAQ AEP opened at $99.33 on Wednesday. The company has a 50-day moving average price of $98.87 and a 200-day moving average price of $95.64. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. 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 firm has a market capitalization of $52.86 billion, a P/E ratio of 19.91, a PEG ratio of 2.82 and a beta of 0.55.

American Electric Power Increases Dividend

The firm 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 $0.93 dividend. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.75%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Ratings Changes

Several research firms have recently weighed in on AEP. BMO Capital Markets reduced their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Barclays cut their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Bank of America increased their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.93.

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.