Toronto Dominion Bank Grows Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Toronto Dominion Bank increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 21.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 327,254 shares of the company's stock after purchasing an additional 57,019 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of American Electric Power worth $33,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. Pathway Financial Advisers LLC raised its holdings in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock worth $203,399,000 after purchasing an additional 1,963,154 shares during the period. Janus Henderson Group PLC increased its holdings in American Electric Power by 109.5% in the 3rd 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 last quarter. State Street Corp raised its stake in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC lifted 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 valued at $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management bought a new position in American Electric Power during the third quarter worth about $80,207,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 0.8 %

Shares of NASDAQ AEP traded down $0.78 during trading on Thursday, reaching $92.85. The company had a trading volume of 1,982,274 shares, compared to its average volume of 3,102,980. The business's 50-day moving average is $97.82 and its 200 day moving average is $96.05. 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 market cap of $49.41 billion, a PE ratio of 18.76, a P/E/G ratio of 2.77 and a beta of 0.55. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.01%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEP. Evercore ISI reduced their price objective on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a research note on Thursday, August 29th. Scotiabank lowered shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $105.00 to $102.00 in a research report on Thursday. Wells Fargo & Company dropped 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 report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $97.13.

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.