Prospera Financial Services Inc Buys 2,287 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Prospera Financial Services Inc raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.6% in the third quarter, Holdings Channel.com reports. The firm owned 17,937 shares of the company’s stock after acquiring an additional 2,287 shares during the period. Prospera Financial Services Inc’s holdings in American Electric Power were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions 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 worth $25,000 after acquiring an additional 103 shares during the period. LRI Investments LLC lifted its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the period. 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 worth $38,000 after acquiring an additional 150 shares during the period. Naples Money Management LLC bought a new position in shares of American Electric Power during the 2nd quarter worth about $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power during the 2nd quarter worth about $48,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Trading Up 0.1 %

AEP opened at $96.80 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $51.51 billion, a PE ratio of 19.40, a PEG ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a 50-day moving average price of $99.34 and a two-hundred day moving average price of $95.39.

American Electric Power Increases Dividend

The firm also recently declared 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 boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.84%. American Electric Power’s payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AEP. Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. 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 report on Friday, October 18th. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays lifted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.27.

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.