Quantinno Capital Management LP lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,800 shares of the company's stock after purchasing an additional 9,985 shares during the quarter. Quantinno Capital Management LP's holdings in American Electric Power were worth $7,264,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. FMR LLC grew its holdings in American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock worth $704,549,000 after acquiring an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company's stock worth $466,191,000 after acquiring an additional 341,846 shares during the period. Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock worth $385,079,000 after acquiring an additional 1,962,125 shares during the period. Envestnet Asset Management Inc. grew its holdings in American Electric Power by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company's stock worth $296,433,000 after acquiring an additional 35,769 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in American Electric Power by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company's stock worth $326,596,000 after acquiring an additional 51,467 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.
American Electric Power Price Performance
Shares of AEP traded down $1.60 during trading hours on Friday, reaching $95.85. 2,676,413 shares of the company traded hands, compared to its average volume of 2,590,180. The stock has a market capitalization of $51.00 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a fifty day simple moving average of $98.27 and a 200 day simple moving average of $95.93.
American Electric Power Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.88%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's payout ratio is presently 74.55%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Jefferies Financial Group started coverage on American Electric Power in a report on Friday, September 20th. They set a "hold" rating and a $107.00 price objective on the stock. Scotiabank upped their target price 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. UBS Group upped their target price on American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a report on Thursday, November 7th. Finally, Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $98.20.
Read Our Latest Analysis on AEP
About American Electric Power
(
Free Report)
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.
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