Kovitz Investment Group Partners LLC bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,956 shares of the company's stock, valued at approximately $1,021,000.
A number of other hedge funds also recently made changes to their positions in the stock. Pathway Financial Advisers LLC increased its holdings in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. State Street Corp increased its stake in shares of American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after buying an additional 1,114,954 shares during the period. FMR LLC increased its stake in shares of American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after buying an additional 1,087,163 shares during the period. Finally, Raymond James & Associates raised its holdings in American Electric Power by 51.1% in the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company's stock valued at $161,877,000 after buying an additional 623,789 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power Trading Down 0.6 %
Shares of American Electric Power stock traded down $0.53 on Thursday, hitting $93.10. 1,084,779 shares of the company's stock traded hands, compared to its average volume of 3,099,060. The company has a fifty day moving average of $97.82 and a two-hundred day moving average of $96.05. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a market capitalization of $49.54 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power's dividend payout ratio is presently 74.55%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on AEP shares. UBS Group boosted 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Evercore ISI cut their target price on American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Finally, BMO Capital Markets upped their price target on American Electric Power from $104.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $97.13.
View Our Latest Report on AEP
American Electric Power Company Profile
(
Free Report)
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.
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