Point72 Hong Kong Ltd Buys Shares of 33,263 American Electric Power Company, Inc. (NASDAQ:AEP)

Point72 Hong Kong Ltd purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,263 shares of the company’s stock, valued at approximately $3,413,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. LRI Investments LLC raised its stake 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 worth $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc boosted 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 valued at $38,000 after acquiring an additional 150 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in American Electric Power in the third quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new position in American Electric Power in the third quarter worth $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

NASDAQ:AEP opened at $99.86 on Friday. The company has a 50 day moving average price of $98.72 and a 200-day moving average price of $95.79. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a market cap of $53.14 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.73%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley decreased their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays dropped their price objective on shares of 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. Finally, Wells Fargo & Company reduced 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. Two equities research 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. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target of $97.93.

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.