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

Cascade Investment Group Inc. lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 103.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,633 shares of the company’s stock after buying an additional 2,357 shares during the period. Cascade Investment Group Inc.’s holdings in American Electric Power were worth $427,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power in the third quarter worth $33,000. Reston Wealth Management LLC purchased a new position in shares of American Electric Power during the third quarter worth $48,000. Friedenthal Financial acquired a new position in American Electric Power during the third quarter valued at $50,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in American Electric Power in the third quarter valued at $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company cut 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 report on Thursday, November 7th. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

Shares of AEP opened at $97.25 on Monday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The stock has a market capitalization of $51.75 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.58 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company’s fifty day moving average is $94.52 and its two-hundred day moving average is $96.91.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. American Electric Power’s dividend payout ratio is 74.55%.

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.