American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,990 shares of the company’s stock after purchasing an additional 462 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in American Electric Power were worth $3,077,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AEP. Vanguard Group Inc. boosted its holdings in shares of American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC lifted its position in 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 valued at $739,303,000 after acquiring an additional 776,965 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after acquiring an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of 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 worth $296,433,000 after purchasing an additional 35,769 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.4 %

Shares of AEP stock opened at $93.33 on Thursday. 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. The business’s fifty day moving average price is $100.23 and its 200 day moving average price is $95.10. The firm has a market capitalization of $49.66 billion, a PE ratio of 18.70, a P/E/G ratio of 2.65 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.99%. 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. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets dropped their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group assumed 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 target for the company. Morgan Stanley lifted their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Two equities 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 company’s stock. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus price target of $98.27.

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.