American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,851 shares of the company’s stock after acquiring an additional 3,440 shares during the quarter. Public Sector Pension Investment Board’s holdings in American Electric Power were worth $9,527,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AEP. FMR LLC raised its position in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after acquiring an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares during the period. Envestnet Asset Management Inc. increased its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of American Electric Power by 1.6% in the third 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 period. Finally, Pathway Financial Advisers LLC boosted 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 worth $203,399,000 after buying an additional 1,963,154 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Down 0.0 %

Shares of AEP opened at $99.86 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The stock has a fifty day moving average of $98.72 and a two-hundred day moving average of $95.76. 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 $53.14 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently announced 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 an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.73%. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Barclays decreased their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Morgan Stanley lowered their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, 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 research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.