Principal Street Partners LLC Takes $205,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Principal Street Partners LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,056 shares of the company’s stock, valued at approximately $205,000.

Several other large investors also recently modified their holdings of AEP. HHM Wealth Advisors LLC lifted its holdings 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 purchasing an additional 103 shares during the last quarter. LRI Investments LLC increased its position in 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 buying 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 second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new stake in shares of American Electric Power during the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power in the second quarter valued at about $48,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley cut their target price 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. BMO Capital Markets decreased their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $97.93.

American Electric Power Stock Performance

Shares of AEP stock opened at $99.33 on Wednesday. The business’s 50-day moving average price is $98.87 and its 200-day moving average price is $95.64. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. 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 firm has a market capitalization of $52.86 billion, a price-to-earnings 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. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

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.