Hollow Brook Wealth Management LLC Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Hollow Brook Wealth Management LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.9% in the third quarter, HoldingsChannel.com reports. The fund owned 64,389 shares of the company’s stock after purchasing an additional 3,035 shares during the period. American Electric Power accounts for 2.0% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 17th largest position. Hollow Brook Wealth Management LLC’s holdings in American Electric Power were worth $6,606,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC boosted its stake in 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 in the last quarter. E Fund Management Co. Ltd. raised its position 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 acquiring an additional 105 shares in the last quarter. XML Financial LLC lifted its holdings in American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 shares during the period. Garrison Asset Management LLC boosted its position in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its holdings in shares of American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Down 0.0 %

Shares of NASDAQ AEP opened at $99.86 on Monday. The company has a market cap of $53.14 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The stock’s 50 day simple moving average is $98.72 and its 200 day simple moving average is $95.82. 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.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. American Electric Power’s payout ratio is 74.55%.

Analyst Ratings Changes

AEP has been the subject of a number of research reports. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. BMO Capital Markets dropped their price target on shares of 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. Finally, 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 report on Tuesday, August 20th. 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. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average target price of $97.93.

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.