Tritonpoint Wealth LLC Purchases 460 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Tritonpoint Wealth LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,460 shares of the company’s stock after purchasing an additional 460 shares during the quarter. Tritonpoint Wealth LLC’s holdings in American Electric Power were worth $319,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AEP. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of American Electric Power in the third quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $48,000. Friedenthal Financial purchased a new position in American Electric Power in the 3rd quarter worth approximately $50,000. Finally, Future Financial Wealth Managment LLC bought a new position in American Electric Power in the 3rd quarter valued at approximately $50,000. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AEP has been the subject of a number of research analyst reports. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. BMO Capital Markets decreased their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays dropped their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. 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 report on Friday, November 22nd. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Up 0.3 %

American Electric Power stock opened at $98.36 on Monday. 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 firm has a market capitalization of $52.34 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.78 and a beta of 0.56. The firm has a 50 day moving average of $95.11 and a 200 day moving average of $97.57.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

About American Electric Power

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.