Wealth Enhancement Advisory Services LLC Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Wealth Enhancement Advisory Services LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 304,851 shares of the company’s stock after acquiring an additional 564 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in American Electric Power were worth $28,116,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its stake in American Electric Power by 70.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,983 shares of the company’s stock valued at $613,000 after acquiring an additional 2,882 shares during the period. Acadian Asset Management LLC purchased a new stake in American Electric Power in the second quarter valued at $1,653,000. Ashton Thomas Private Wealth LLC acquired a new stake in American Electric Power during the 2nd quarter worth about $110,000. Headlands Technologies LLC purchased a new position in shares of American Electric Power during the 2nd quarter valued at about $223,000. Finally, LPL Financial LLC lifted its holdings in shares of American Electric Power by 5.0% in the 2nd quarter. LPL Financial LLC now owns 884,628 shares of the company’s stock valued at $77,617,000 after buying an additional 41,879 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.4 %

Shares of AEP opened at $93.51 on Friday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The stock has a market cap of $49.76 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The firm’s fifty day moving average is $94.72 and its two-hundred day moving average is $96.63. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.98%. The ex-dividend date was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AEP shares. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Barclays cut their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company lowered their price target 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. Evercore ISI cut their price objective 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. Finally, Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.57.

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.