CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Makes New $2.67 Million Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake 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 & Exchange Commission. The firm purchased 26,000 shares of the company's stock, valued at approximately $2,668,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AEP. Hodges Capital Management Inc. bought a new position in shares of American Electric Power in the 1st quarter valued at about $1,615,000. Quantbot Technologies LP bought a new stake in shares of American Electric Power during the 1st quarter valued at $1,731,000. Nordea Investment Management AB lifted its stake in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company's stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC boosted its position in shares of American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company's stock worth $22,510,000 after purchasing an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company's stock worth $50,170,000 after purchasing an additional 103,771 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. Barclays boosted their target price on American Electric Power from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of American Electric Power from $98.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus target price of $98.43.

American Electric Power Stock Down 0.3 %

Shares of NASDAQ:AEP traded down $0.27 during midday trading on Tuesday, reaching $99.89. The company had a trading volume of 1,981,695 shares, compared to its average volume of 3,131,004. The business's 50 day moving average price is $100.49 and its 200 day moving average price is $93.52. American Electric Power Company, Inc. has a 1-year low of $72.01 and a 1-year high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock has a market cap of $52.65 billion, a PE ratio of 18.53, a P/E/G ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. Research analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company 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. 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 3.72%. American Electric Power's dividend payout ratio (DPR) is 65.31%.

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.