Fmr LLC Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Fmr LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,866,952 shares of the company’s stock after purchasing an additional 1,087,163 shares during the quarter. Fmr LLC’s holdings in American Electric Power were worth $704,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AEP. Tidal Investments LLC boosted its stake in American Electric Power by 5.8% in the first quarter. Tidal Investments LLC now owns 13,103 shares of the company’s stock worth $1,126,000 after buying an additional 724 shares in the last quarter. Atria Investments Inc boosted its stake in American Electric Power by 27.2% in the first quarter. Atria Investments Inc now owns 77,394 shares of the company’s stock worth $6,664,000 after buying an additional 16,568 shares in the last quarter. Cetera Investment Advisers boosted its stake in American Electric Power by 240.0% in the first quarter. Cetera Investment Advisers now owns 222,765 shares of the company’s stock worth $19,180,000 after buying an additional 157,250 shares in the last quarter. Cetera Advisors LLC boosted its stake in American Electric Power by 80.0% in the first quarter. Cetera Advisors LLC now owns 54,779 shares of the company’s stock worth $4,716,000 after buying an additional 24,339 shares in the last quarter. Finally, Cambridge Trust Co. boosted its stake in American Electric Power by 6.7% in the first quarter. Cambridge Trust Co. now owns 2,218 shares of the company’s stock worth $191,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP opened at $99.89 on Friday. The stock has a fifty day simple moving average of $98.77 and a two-hundred day simple moving average of $95.70. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market cap of $53.15 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth 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.

American Electric Power Increases Dividend

The firm 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. 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 annualized dividend and a dividend yield of 3.72%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEP. Wells Fargo & Company cut their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Barclays dropped their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Two 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 data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $97.93.

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.