Passumpsic Savings Bank Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Passumpsic Savings Bank acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 8,912 shares of the company’s stock, valued at approximately $914,000.

Other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its stake 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 acquiring an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC increased its position in American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after buying an additional 1,962,125 shares during the period. State Street Corp increased its position in American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after buying an additional 1,114,954 shares during the period. FMR LLC increased its position in American Electric Power by 18.8% in 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 during the period. Finally, Zacks Investment Management bought a new position in American Electric Power in the 3rd quarter worth approximately $80,207,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Down 0.5 %

Shares of AEP opened at $95.10 on Wednesday. The firm has a market cap of $50.60 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.77 and a beta of 0.55. The stock has a 50 day simple moving average of $97.98 and a two-hundred day simple moving average of $96.07. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.91%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AEP shares. JPMorgan Chase & Co. lifted their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Bank of America boosted their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley decreased their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Barclays decreased their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus price target of $98.20.

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.