ING Groep NV Increases Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

ING Groep NV increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 244.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,515 shares of the company's stock after acquiring an additional 208,974 shares during the quarter. ING Groep NV owned approximately 0.06% of American Electric Power worth $30,217,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC lifted its position in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the last quarter. LRI Investments LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at approximately $37,000. Briaud Financial Planning Inc raised its position in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power in the 3rd quarter valued at approximately $50,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on shares of American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Finally, Evercore ISI cut their price target on shares of 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. 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $98.27.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded up $0.43 during midday trading on Thursday, reaching $93.76. 2,571,090 shares of the stock were exchanged, compared to its average volume of 3,151,654. The firm has a market cap of $49.89 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a 50-day simple moving average of $100.04 and a two-hundred day simple moving average of $95.09. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a boost from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.97%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.

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.