Brooklyn Investment Group Purchases 172 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Brooklyn Investment Group grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,296 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Brooklyn Investment Group’s holdings in American Electric Power were worth $338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its position in 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 last quarter. LRI Investments LLC lifted its position in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc lifted its position 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 buying an additional 150 shares during the last quarter. Reston Wealth Management LLC bought a new stake in American Electric Power in the third quarter worth $48,000. Finally, Friedenthal Financial bought a new stake in American Electric Power in the third quarter worth $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $99.33 on Wednesday. The firm has a market cap of $52.86 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.82 and a beta of 0.55. 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 Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock’s fifty day moving average price is $98.87 and its 200-day moving average price is $95.64.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI reduced their target price 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. JPMorgan Chase & Co. increased their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Finally, Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.93.

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.