Allen Mooney & Barnes Investment Advisors LLC Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Allen Mooney & Barnes Investment Advisors LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,796 shares of the company’s stock after purchasing an additional 500 shares during the period. American Electric Power comprises about 2.3% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 12th largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in American Electric Power were worth $13,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power during the 3rd quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $48,000. Future Financial Wealth Managment LLC purchased a new position in American Electric Power in the third quarter valued at approximately $50,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

American Electric Power stock opened at $94.50 on Wednesday. The firm has a market capitalization of $50.29 billion, a PE ratio of 18.94, a P/E/G ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The firm’s 50-day simple moving average is $94.52 and its 200 day simple moving average is $96.78. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.93 dividend. The ex-dividend date of this dividend was Friday, November 8th. 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 dividend yield of 3.94%. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AEP shares. Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Barclays lowered their price objective on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.00.

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.