Balboa Wealth Partners Makes New $313,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Balboa Wealth Partners bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, Holdings Channel reports. The firm bought 3,051 shares of the company’s stock, valued at approximately $313,000.

A number of other large investors have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC boosted its position in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. LRI Investments LLC boosted its position in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $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% in the second 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 period. Naples Money Management LLC bought a new stake in shares of American Electric Power in the second quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power in the second quarter valued at approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEP. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets reduced their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, 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 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $96.31 on Friday. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a market cap of $51.25 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55. 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 business has a fifty day moving average of $99.74 and a 200-day moving average of $95.15.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a positive change 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 3.86%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

American Electric Power 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.