Investment Management Corp of Ontario Buys 5,900 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Investment Management Corp of Ontario lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 50.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,542 shares of the company's stock after buying an additional 5,900 shares during the quarter. Investment Management Corp of Ontario's holdings in American Electric Power were worth $1,800,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AEP. OLD National Bancorp IN raised its position in shares of American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company's stock worth $10,572,000 after buying an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC raised its holdings 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 acquiring an additional 4,971 shares in the last quarter. New England Asset Management Inc. bought a new stake in shares of American Electric Power during the 3rd quarter valued at about $3,404,000. Assenagon Asset Management S.A. grew its holdings in shares of American Electric Power by 1,140.5% during the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company's stock worth $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Finally, ING Groep NV increased its position in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company's stock worth $30,217,000 after purchasing an additional 208,974 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 1.2 %

AEP traded up $1.20 during trading on Thursday, hitting $97.45. 2,234,673 shares of the stock traded hands, compared to its average volume of 3,116,739. The firm has a 50-day moving average of $98.39 and a 200 day moving average of $95.90. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The firm has a market capitalization of $51.86 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.80 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 price target on the stock. Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Finally, Scotiabank raised their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.20.

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.