Angeles Wealth Management LLC Invests $242,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Angeles Wealth Management LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,357 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of American Electric Power by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 146,090 shares of the company’s stock worth $14,730,000 after acquiring an additional 9,937 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in shares of American Electric Power by 67.0% during the third quarter. Confluence Wealth Services Inc. now owns 5,101 shares of the company’s stock valued at $523,000 after buying an additional 2,046 shares during the last quarter. Prossimo Advisors LLC purchased a new stake in shares of American Electric Power in the third quarter worth approximately $783,000. Princeton Global Asset Management LLC boosted its holdings in American Electric Power by 18.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,471 shares of the company’s stock valued at $151,000 after acquiring an additional 234 shares during the period. Finally, James Investment Research Inc. grew its position in American Electric Power by 1.3% in the 3rd quarter. James Investment Research Inc. now owns 39,220 shares of the company’s stock valued at $4,024,000 after acquiring an additional 494 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

NASDAQ:AEP opened at $97.25 on Monday. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The company has a fifty day moving average of $100.68 and a two-hundred day moving average of $94.54. The stock has a market capitalization of $51.75 billion, a PE ratio of 19.37, a P/E/G ratio of 2.82 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. American Electric Power’s dividend payout ratio is presently 70.12%.

Analysts Set New Price Targets

AEP has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets boosted their price target on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Barclays raised their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Finally, Scotiabank raised their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.43.

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.