2,014 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,014 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently modified their holdings of the business. HHM Wealth Advisors LLC boosted its stake in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. XML Financial LLC boosted its position in shares of American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares in the last quarter. Garrison Asset Management LLC grew its stake in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY raised its stake in American Electric Power by 2.2% during 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. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. 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 price target for the company. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Scotiabank increased 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 report on Tuesday, August 20th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Morgan Stanley cut their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $97.59 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock has a 50 day moving average of $99.11 and a 200 day moving average of $95.50. The firm has a market cap of $51.93 billion, a PE ratio of 19.56, a PEG ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued 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 3.81%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

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.