Hennion & Walsh Asset Management Inc. Has $2.54 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 64.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,507 shares of the company’s stock after purchasing an additional 10,823 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in American Electric Power were worth $2,537,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. BMO Capital Markets lowered their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Evercore ISI reduced 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 research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.25 on Friday. The firm has a fifty day moving average of $94.51 and a two-hundred day moving average of $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 stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 74.55%.

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.