Aigen Investment Management LP Invests $1.01 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Aigen Investment Management LP bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 9,827 shares of the company's stock, valued at approximately $1,008,000.

A number of other institutional investors have also modified their holdings of the company. Mizuho Markets Americas LLC lifted its position in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company's stock worth $22,510,000 after acquiring an additional 226,435 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of American Electric Power by 60.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company's stock valued at $4,285,000 after purchasing an additional 18,726 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of American Electric Power by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company's stock valued at $57,197,000 after purchasing an additional 96,645 shares in the last quarter. OLD National Bancorp IN raised its position in shares of American Electric Power by 14.4% in the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company's stock valued at $10,572,000 after purchasing an additional 15,138 shares in the last quarter. Finally, MainStreet Investment Advisors LLC raised its position in shares of American Electric Power by 13.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company's stock valued at $3,730,000 after purchasing an additional 4,971 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 0.4 %

Shares of AEP traded up $0.37 during midday trading on Wednesday, reaching $93.33. 2,561,477 shares of the stock were exchanged, compared to its average volume of 3,154,297. The firm has a 50 day simple moving average of $100.23 and a 200-day simple moving average of $95.10. The company has a quick ratio of 0.41, a current ratio of 0.57 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 company has a market cap of $49.66 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.65 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is an increase from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, November 8th. American Electric Power's payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of research analyst reports. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. Wells Fargo & Company lowered their price target 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. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They issued a "hold" rating and a $107.00 price target for the company. Evercore ISI lowered their price target 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, Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Two 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, American Electric Power currently has an average rating of "Hold" and an average price target of $98.27.

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.