Venturi Wealth Management LLC Grows Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Venturi Wealth Management LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 31.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,615 shares of the company’s stock after purchasing an additional 391 shares during the quarter. Venturi Wealth Management LLC’s holdings in American Electric Power were worth $166,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AEP. Addison Advisors LLC lifted its stake in American Electric Power by 510.4% in the third quarter. Addison Advisors LLC now owns 5,506 shares of the company’s stock worth $565,000 after acquiring an additional 4,604 shares during the period. Kennebec Savings Bank purchased a new stake in shares of American Electric Power in the 3rd quarter worth approximately $304,000. Ashton Thomas Securities LLC boosted its stake in shares of American Electric Power by 19.1% during the third quarter. Ashton Thomas Securities LLC now owns 4,424 shares of the company’s stock valued at $454,000 after purchasing an additional 709 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in American Electric Power by 348.4% during the third quarter. Los Angeles Capital Management LLC now owns 31,312 shares of the company’s stock valued at $3,213,000 after buying an additional 24,329 shares during the period. Finally, Axxcess Wealth Management LLC raised its stake in American Electric Power by 0.5% in the third quarter. Axxcess Wealth Management LLC now owns 37,130 shares of the company’s stock worth $3,809,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Scotiabank raised their price objective 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. BMO Capital Markets reduced their target price 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. Finally, Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Up 0.4 %

Shares of AEP opened at $93.33 on Thursday. The firm has a market cap of $49.66 billion, a P/E ratio of 18.60, a PEG ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock’s 50 day moving average is $100.23 and its two-hundred day moving average is $95.10. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.99%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 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.