Avity Investment Management Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 3.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,524 shares of the company’s stock after buying an additional 150 shares during the period. Avity Investment Management Inc.’s holdings in American Electric Power were worth $417,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in AEP. Principal Financial Group Inc. raised its stake in shares of American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after buying an additional 19,081 shares in the last quarter. New England Asset Management Inc. purchased a new position in American Electric Power in the 3rd quarter valued at approximately $3,404,000. ING Groep NV increased its position in shares of American Electric Power by 244.3% in the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock valued at $30,217,000 after buying an additional 208,974 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in American Electric Power in the 3rd quarter valued at about $1,815,000. Finally, L & S Advisors Inc acquired a new position in American Electric Power during the second quarter worth about $2,398,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the company from $98.00 to $104.00 in a report on Monday. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus price target of $98.00.
American Electric Power Price Performance
Shares of AEP stock opened at $94.50 on Wednesday. The firm has a fifty day moving average of $94.52 and a two-hundred day moving average of $96.78. The firm has a market cap of $50.29 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.94%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.
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.
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