4,705 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,705 shares of the company’s stock, valued at approximately $434,000.

Several other large investors have also recently modified their holdings of AEP. E Fund Management Co. Ltd. grew its holdings in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after purchasing an additional 105 shares during the last quarter. XML Financial LLC grew its stake in American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the last quarter. Garrison Asset Management LLC increased its position in American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY raised its stake in American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the last quarter. Finally, First United Bank & Trust boosted its holdings in American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.73 during mid-day trading on Monday, reaching $94.24. 2,581,425 shares of the stock traded hands, compared to its average volume of 3,194,089. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average of $94.72 and a 200 day moving average of $96.69. The stock has a market capitalization of $50.15 billion, a PE ratio of 18.89, a PEG ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of 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 lifted their price target for the stock from $98.00 to $104.00 in a research report on Monday. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Finally, Barclays cut their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.