Advisors Asset Management Inc. Has $2.20 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Advisors Asset Management Inc. lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,429 shares of the company’s stock after purchasing an additional 2,790 shares during the period. Advisors Asset Management Inc.’s holdings in American Electric Power were worth $2,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AEP. HHM Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 103 shares during the last quarter. LRI Investments LLC grew its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its holdings in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Naples Money Management LLC acquired a new stake in American Electric Power during the second quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power during the second quarter worth approximately $48,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AEP shares. Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wells Fargo & Company dropped their target price on 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. Evercore ISI decreased their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, Barclays increased their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

American Electric Power stock opened at $97.59 on Monday. 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 $51.93 billion, a PE ratio of 19.56, a P/E/G ratio of 2.83 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. The business’s 50-day moving average price is $99.11 and its two-hundred day moving average price is $95.54.

American Electric Power Increases Dividend

The business also recently disclosed 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 3.81%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.55%.

American Electric Power 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.