Cozad Asset Management Inc. Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cozad Asset Management Inc. bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,086 shares of the company’s stock, valued at approximately $214,000.

Other large investors also recently bought and sold shares of the company. Graypoint LLC increased its stake in American Electric Power by 4.5% during the third quarter. Graypoint LLC now owns 5,070 shares of the company’s stock worth $520,000 after acquiring an additional 220 shares during the last quarter. Forte Capital LLC ADV boosted its holdings in shares of American Electric Power by 47.2% in the 3rd quarter. Forte Capital LLC ADV now owns 10,747 shares of the company’s stock worth $1,103,000 after purchasing an additional 3,445 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of American Electric Power by 8.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 22,023 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,788 shares during the last quarter. Centennial Wealth Advisory LLC raised its holdings in American Electric Power by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 4,272 shares of the company’s stock valued at $438,000 after buying an additional 158 shares during the period. Finally, Umpqua Bank lifted its position in American Electric Power by 5.0% in the third quarter. Umpqua Bank now owns 3,089 shares of the company’s stock worth $317,000 after buying an additional 148 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets cut their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday. 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. 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 research note on Thursday. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Finally, Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.27.

American Electric Power Price Performance

AEP opened at $96.40 on Friday. The company has a market capitalization of $51.30 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.81 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The business’s fifty day simple moving average is $100.59 and its 200-day simple moving average is $94.79.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.86%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 70.12%.

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.