Centaurus Financial Inc. Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Centaurus Financial Inc. lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,110 shares of the company’s stock after acquiring an additional 445 shares during the period. Centaurus Financial Inc.’s holdings in American Electric Power were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. HHM Wealth Advisors LLC lifted its position in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC raised its position in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised its position in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Naples Money Management LLC bought a new stake in shares of American Electric Power during the 2nd quarter worth $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in American Electric Power in the second quarter worth $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered 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. BMO Capital Markets decreased their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company cut their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus target price of $97.93.

American Electric Power Price Performance

AEP opened at $99.33 on Wednesday. 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 stock has a market capitalization of $52.86 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The stock’s 50 day moving average price is $98.87 and its 200-day moving average price is $95.64. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.75%. American Electric Power’s dividend payout ratio (DPR) is presently 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.