Pathway Financial Advisers LLC Has $203.40 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Pathway Financial Advisers LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 10,177.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,982,444 shares of the company’s stock after acquiring an additional 1,963,154 shares during the quarter. American Electric Power comprises about 1.3% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 23rd largest position. Pathway Financial Advisers LLC’s holdings in American Electric Power were worth $203,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AEP. Vanguard Group Inc. lifted its position in American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after acquiring an additional 776,965 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in American Electric Power by 1.1% during the second 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. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AEP shares. Guggenheim raised their price target on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. BMO Capital Markets raised their price target on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Barclays upped their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Performance

Shares of American Electric Power stock traded down $1.20 during trading on Friday, reaching $98.19. The company’s stock had a trading volume of 2,338,992 shares, compared to its average volume of 3,116,072. The business’s fifty day moving average price is $100.68 and its 200-day moving average price is $93.82. American Electric Power Company, Inc. has a one year low of $74.37 and a one year high of $105.18. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. American Electric Power’s dividend payout ratio is 69.02%.

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.