Janney Montgomery Scott LLC Has $17.54 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Janney Montgomery Scott LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 170,949 shares of the company’s stock after acquiring an additional 261 shares during the period. Janney Montgomery Scott LLC’s holdings in American Electric Power were worth $17,539,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its stake in American Electric Power by 57.2% during 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 increased its position 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 buying an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the period. Naples Money Management LLC bought a new position in American Electric Power during the second quarter worth about $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power in the second quarter valued at about $48,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their price target on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Barclays increased their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Up 2.0 %

AEP stock opened at $100.40 on Wednesday. The company has a market cap of $53.42 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $74.97 and a twelve month high of $105.18. The business has a 50 day moving average price of $100.67 and a two-hundred day moving average price of $94.65. 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 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 3.71%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is 70.12%.

American Electric Power 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.