Alpha Cubed Investments LLC Acquires 118,226 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Alpha Cubed Investments LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 545,934 shares of the company’s stock after buying an additional 118,226 shares during the period. American Electric Power comprises approximately 2.3% of Alpha Cubed Investments LLC’s holdings, making the stock its 12th largest holding. Alpha Cubed Investments LLC owned approximately 0.10% of American Electric Power worth $50,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in American Electric Power during the 3rd quarter valued at $33,000. Reston Wealth Management LLC bought a new position in American Electric Power in the 3rd quarter valued at $48,000. Decker Retirement Planning Inc. bought a new stake in shares of American Electric Power during the fourth quarter worth $49,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the 3rd quarter worth about $50,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP opened at $97.25 on Tuesday. The firm’s fifty day moving average price is $94.58 and its two-hundred day moving average price is $97.04. The company has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.76 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

Analysts Set New Price Targets

Several research analysts have issued reports on AEP shares. Barclays reduced their price objective on 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. BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $98.00 to $104.00 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.