Beacon Financial Advisory LLC Acquires Shares of 9,812 American Electric Power Company, Inc. (NASDAQ:AEP)

Beacon Financial Advisory LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 9,812 shares of the company’s stock, valued at approximately $905,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. XML Financial LLC boosted its position in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after acquiring an additional 106 shares in the last quarter. PSI Advisors LLC lifted 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 worth $103,000 after purchasing an additional 107 shares during the last quarter. Garrison Asset Management LLC increased its stake in American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares during the last quarter. Roanoke Asset Management Corp NY raised its holdings 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 worth $516,000 after purchasing an additional 110 shares in the last quarter. Finally, First United Bank & Trust lifted its position in shares of American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Evercore ISI decreased their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Trading Up 1.5 %

NASDAQ AEP opened at $99.39 on Thursday. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a 50-day moving average price of $95.09 and a 200 day moving average price of $97.68. The stock has a market capitalization of $52.89 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.79 and a beta of 0.58. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.74%. American Electric Power’s payout ratio 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.