Claro Advisors LLC Purchases 885 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Claro Advisors LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,240 shares of the company’s stock after purchasing an additional 885 shares during the period. Claro Advisors LLC’s holdings in American Electric Power were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AEP. HHM Wealth Advisors LLC raised its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. E Fund Management Co. Ltd. boosted its holdings in American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares during the period. XML Financial LLC grew its position in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 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 worth $1,950,000 after purchasing an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY lifted its position in shares of 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 during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Up 2.7 %

Shares of American Electric Power stock opened at $96.31 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company has a market cap of $51.25 billion, a P/E ratio of 19.30, a PEG ratio of 2.78 and a beta of 0.55. The firm’s 50 day moving average price is $99.74 and its 200-day moving average price is $95.21. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is currently 74.55%.

Analysts Set New Price Targets

Several research analysts recently commented on AEP shares. Evercore ISI reduced their price target on shares of 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. Bank of America raised their target price 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. Wells Fargo & Company lowered their price target on 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. JPMorgan Chase & Co. raised their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.27.

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.