HB Wealth Management LLC Acquires 4,741 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

HB Wealth Management LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,900 shares of the company’s stock after acquiring an additional 4,741 shares during the period. HB Wealth Management LLC’s holdings in American Electric Power were worth $3,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. XML Financial LLC boosted its stake in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after buying an additional 106 shares during the last quarter. PSI Advisors LLC boosted its stake in American Electric Power by 10.6% during the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after buying an additional 107 shares during the last quarter. Garrison Asset Management LLC boosted its stake in American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares during the last quarter. Roanoke Asset Management Corp NY boosted its stake in American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the last quarter. Finally, First United Bank & Trust boosted its stake in American Electric Power by 17.1% during the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after buying an additional 112 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AEP shares. UBS Group increased their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Evercore ISI decreased 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. BMO Capital Markets decreased their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Up 0.4 %

AEP opened at $97.25 on Monday. The stock’s fifty day moving average is $94.52 and its two-hundred day moving average is $96.91. The company has a market capitalization of $51.75 billion, a P/E ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. 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 disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 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.