Empirical Asset Management LLC Invests $8.02 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Empirical Asset Management LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 86,981 shares of the company’s stock, valued at approximately $8,022,000.

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

American Electric Power Stock Up 1.8 %

American Electric Power stock opened at $96.82 on Friday. The business’s 50-day simple moving average is $94.50 and its two-hundred day simple moving average is $96.77. 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 company has a market cap of $51.52 billion, a PE ratio of 19.40, a PEG ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a $0.93 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.84%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 74.55%.

Analysts Set New Price Targets

Several research firms have commented on AEP. BMO Capital Markets decreased their price target on shares of 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Evercore ISI cut their price target 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. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.