Prospera Financial Services Inc Purchases 15,856 Shares of American Electric Power Company, Inc. $AEP

Prospera Financial Services Inc raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 59.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,392 shares of the company’s stock after purchasing an additional 15,856 shares during the period. Prospera Financial Services Inc’s holdings in American Electric Power were worth $4,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in shares of American Electric Power in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in American Electric Power in the third quarter worth about $26,000. Advantage Trust Co grew its holdings in American Electric Power by 57.1% in the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Montag A & Associates Inc. increased its stake in shares of American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of American Electric Power by 277.1% during the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock valued at $32,000 after purchasing an additional 230 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AEP shares. Bank of America lowered American Electric Power from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $131.00 to $122.00 in a research report on Monday, January 12th. LADENBURG THALM/SH SH reduced their price target on American Electric Power from $124.50 to $117.50 and set a “neutral” rating for the company in a report on Friday, January 23rd. Citigroup lifted their price target on American Electric Power from $111.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. UBS Group cut their price objective on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.39.

American Electric Power Trading Up 0.8%

American Electric Power stock opened at $122.25 on Thursday. American Electric Power Company, Inc. has a one year low of $97.46 and a one year high of $124.80. The business’s fifty day moving average is $117.16 and its 200 day moving average is $115.72. The stock has a market capitalization of $65.29 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53.

American Electric Power Dividend Announcement

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

Insider Buying and Selling at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the 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 transaction, the director owned 25,898 shares in the company, valued at $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by 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.