American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 46,713 shares of the company’s stock after buying an additional 2,812 shares during the period. Townsquare Capital LLC’s holdings in American Electric Power were worth $4,793,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after purchasing an additional 35,769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of American Electric Power by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock valued at $326,596,000 after purchasing an additional 51,467 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its position 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 valued at $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.6 %

Shares of American Electric Power stock opened at $99.89 on Friday. 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 quick ratio of 0.41 and a current ratio of 0.57. The company has a market capitalization of $53.15 billion, a P/E ratio of 20.02, a PEG ratio of 2.83 and a beta of 0.55. The company’s fifty day moving average is $98.77 and its two-hundred day moving average is $95.70.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. 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 on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Scotiabank increased their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets dropped their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.