Wealthfront Advisers LLC Purchases 8,940 Shares of American Electric Power Company, Inc. $AEP

Wealthfront Advisers LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,893 shares of the company’s stock after acquiring an additional 8,940 shares during the quarter. Wealthfront Advisers LLC’s holdings in American Electric Power were worth $13,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. PFG Investments LLC raised its stake in American Electric Power by 0.3% in the 3rd quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock worth $2,793,000 after purchasing an additional 83 shares in the last quarter. Strategic Advisors LLC increased its holdings in shares of American Electric Power by 0.3% during the third quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock worth $2,993,000 after purchasing an additional 87 shares during the period. SBI Securities Co. Ltd. raised its position in shares of American Electric Power by 16.2% in the third quarter. SBI Securities Co. Ltd. now owns 632 shares of the company’s stock valued at $71,000 after buying an additional 88 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of American Electric Power by 12.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock valued at $82,000 after buying an additional 89 shares during the period. Finally, LFA Lugano Financial Advisors SA grew its position in American Electric Power by 6.8% during the third quarter. LFA Lugano Financial Advisors SA now owns 1,412 shares of the company’s stock worth $159,000 after buying an additional 90 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research initiated coverage on American Electric Power in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. TD Cowen raised American Electric Power to a “strong-buy” rating in a research note on Thursday, October 30th. Scotiabank upped their price objective on shares of American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 16th. Morgan Stanley reissued an “overweight” rating and issued a $125.00 target price on shares of American Electric Power in a report on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $139.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and a consensus price target of $127.39.

American Electric Power Stock Up 0.1%

Shares of AEP opened at $121.23 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. American Electric Power Company, Inc. has a 52 week low of $97.46 and a 52 week high of $124.80. The stock has a market capitalization of $64.75 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.89 and a beta of 0.62. The stock has a fifty day moving average of $117.08 and a 200-day moving average of $115.68.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

Insider Buying and Selling

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director directly owned 25,898 shares in the company, valued at $2,980,082.86. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.