Kingsview Wealth Management LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Kingsview Wealth Management LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 31.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,332 shares of the company’s stock after buying an additional 5,100 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American Electric Power were worth $2,189,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. LRI Investments LLC boosted its stake in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc grew its holdings in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Naples Money Management LLC purchased a new stake in shares of American Electric Power during the 2nd quarter valued at $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the 2nd quarter worth $48,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

AEP opened at $98.10 on Tuesday. The stock has a market cap of $52.20 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a fifty day moving average price of $98.97 and a 200 day moving average price of $95.59. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is 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 3.79%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AEP. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Evercore ISI decreased their price objective on shares of 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. Morgan Stanley lowered their target price 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. Barclays raised their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.