Wilmington Savings Fund Society FSB Makes New $589,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Wilmington Savings Fund Society FSB acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,737 shares of the company’s stock, valued at approximately $589,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $25,000. HHM Wealth Advisors LLC grew its position 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 worth $25,000 after buying an additional 103 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the third quarter valued at approximately $33,000. LRI Investments LLC raised its holdings in shares of American Electric Power by 935.9% during 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. Finally, Briaud Financial Planning Inc lifted its stake 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 acquiring an additional 150 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.2 %

NASDAQ:AEP opened at $92.71 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a market cap of $49.33 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm has a 50-day simple moving average of $97.50 and a two-hundred day simple moving average of $96.17.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were 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 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of 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. restated a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday. Bank of America lifted their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research report on Thursday. Finally, 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 report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.13.

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.