American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Caprock Group LLC

Caprock Group LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,251 shares of the company’s stock after acquiring an additional 573 shares during the quarter. Caprock Group LLC’s holdings in American Electric Power were worth $744,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on AEP shares. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company reduced their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Scotiabank raised their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays upped their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley dropped their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Performance

NASDAQ:AEP opened at $97.59 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm’s 50 day moving average is $99.11 and its two-hundred day moving average is $95.46. The company has a market cap of $51.93 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.79 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

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 represents a $3.72 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

About American Electric Power

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.