MQS Management LLC Invests $425,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

MQS Management LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, Holdings Channel reports. The institutional investor acquired 4,138 shares of the company’s stock, valued at approximately $425,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its stake in American Electric Power by 57.2% in the 2nd 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 holdings 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 during the period. Briaud Financial Planning Inc boosted its position in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Naples Money Management LLC purchased a new stake in shares of American Electric Power in the second quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim increased their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company reduced their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power Price Performance

Shares of AEP opened at $93.33 on Thursday. 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 Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The stock has a market cap of $49.66 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The firm has a fifty day moving average price of $100.23 and a 200 day moving average price of $95.10.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. 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 3.99%. American Electric Power’s dividend payout ratio is 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.