First Horizon Advisors Inc. Purchases 2,692 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First Horizon Advisors Inc. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,375 shares of the company’s stock after purchasing an additional 2,692 shares during the period. First Horizon Advisors Inc.’s holdings in American Electric Power were worth $17,994,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AEP. Pathway Financial Advisers LLC raised its stake in 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 worth $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. Zimmer Partners LP increased its holdings in shares of American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after purchasing an additional 831,235 shares during the period. Lazard Asset Management LLC raised 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 purchasing an additional 776,965 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after purchasing an additional 623,789 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after buying an additional 419,870 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AEP shares. Jefferies Financial Group started coverage on shares of 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. Evercore ISI decreased their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. UBS Group increased their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Two research 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’s stock. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Trading Up 0.2 %

Shares of American Electric Power stock opened at $96.70 on Wednesday. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm’s 50-day moving average price is $99.47 and its 200 day moving average price is $95.38. 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 firm has a market capitalization of $51.46 billion, a PE ratio of 19.38, a P/E/G ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently disclosed 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 is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.85%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 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.