American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,524,692 shares of the company's stock after acquiring an additional 352,588 shares during the period. Geode Capital Management LLC owned approximately 2.35% of American Electric Power worth $1,280,655,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AEP. Brophy Wealth Management LLC acquired a new position in shares of American Electric Power during the third quarter worth $226,000. Vestcor Inc lifted its holdings in American Electric Power by 6.6% in the 3rd quarter. Vestcor Inc now owns 58,959 shares of the company's stock worth $6,049,000 after buying an additional 3,636 shares in the last quarter. Executive Wealth Management LLC purchased a new position in American Electric Power in the 3rd quarter valued at about $1,788,000. Barclays PLC boosted its position in American Electric Power by 10.5% in the 3rd quarter. Barclays PLC now owns 2,249,203 shares of the company's stock valued at $230,764,000 after buying an additional 213,153 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of American Electric Power by 48.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 269,364 shares of the company's stock valued at $27,637,000 after acquiring an additional 87,300 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AEP. BMO Capital Markets increased their price target on American Electric Power from $104.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a "hold" rating and a $107.00 target price for the company. Wells Fargo & Company dropped their price target on shares of American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley reduced their price target on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.20.

American Electric Power Stock Performance

Shares of AEP traded down $1.47 during midday trading on Wednesday, hitting $93.63. 2,925,071 shares of the stock traded hands, compared to its average volume of 3,107,661. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business's 50 day moving average price is $97.98 and its two-hundred day moving average price is $96.07. The firm has a market capitalization of $49.82 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 3.97%. The ex-dividend date was Friday, November 8th. This is a boost from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's payout ratio is 74.55%.

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.