Sumitomo Mitsui Trust Group Inc. Has $135.09 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,316,652 shares of the company's stock after acquiring an additional 36,423 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of American Electric Power worth $135,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC boosted its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC boosted its holdings in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company's stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised its holdings 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 worth $38,000 after buying an additional 150 shares in the last quarter. Naples Money Management LLC bought a new position in shares of American Electric Power during the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in American Electric Power in the 2nd quarter valued at $48,000. Institutional investors own 75.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of American Electric Power from $111.00 to $104.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a "hold" rating and a $107.00 target price for the company. Guggenheim increased their price target on American Electric Power from $81.00 to $83.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Barclays lifted their price objective on 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. Finally, Scotiabank increased their target price on American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. 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's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $98.27.

American Electric Power Stock Performance

Shares of American Electric Power stock traded up $0.37 on Wednesday, hitting $93.33. The stock had a trading volume of 2,561,477 shares, compared to its average volume of 3,154,297. The stock has a market cap of $49.66 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The business's 50 day moving average is $100.23 and its two-hundred day moving average is $95.10. 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 Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.99%. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is currently 74.55%.

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.