W.H. Cornerstone Investments Inc. Buys Shares of 3,372 American Electric Power Company, Inc. (NASDAQ:AEP)

W.H. Cornerstone Investments Inc. purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,372 shares of the company’s stock, valued at approximately $346,000.

A number of other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC grew 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 purchasing an additional 103 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. Garrison Asset Management LLC lifted 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 valued at $1,950,000 after acquiring an additional 109 shares during the period. Roanoke Asset Management Corp NY lifted its position in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after acquiring an additional 110 shares during the period. Finally, Bank of Stockton boosted its stake in American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays upped their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Guggenheim boosted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Scotiabank upped their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price target on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Up 1.2 %

American Electric Power stock opened at $98.40 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market cap of $52.36 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The firm’s 50-day simple moving average is $100.67 and its 200 day simple moving average is $94.65.

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 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 annualized dividend and a dividend yield of 3.78%. American Electric Power’s dividend payout ratio is currently 70.12%.

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.