Concurrent Investment Advisors LLC Has $2.26 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Concurrent Investment Advisors LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,023 shares of the company’s stock after purchasing an additional 1,788 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in American Electric Power were worth $2,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC raised its holdings in American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after acquiring an additional 1,927,234 shares in the last quarter. National Bank of Canada FI raised its stake in shares of American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after acquiring an additional 1,182,451 shares in the last quarter. Zimmer Partners LP boosted its position in American Electric Power by 578.2% during the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after purchasing an additional 831,235 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of 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. JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Barclays increased their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets dropped their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Up 0.1 %

Shares of American Electric Power stock opened at $96.33 on Friday. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18. The business has a fifty day simple moving average of $100.66 and a 200 day simple moving average of $94.78. 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 $51.26 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. American Electric Power’s dividend payout ratio is 70.12%.

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.