Retirement Systems of Alabama Buys 159 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Retirement Systems of Alabama boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,437 shares of the company’s stock after purchasing an additional 159 shares during the period. Retirement Systems of Alabama’s holdings in American Electric Power were worth $11,946,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its position in shares of American Electric Power by 10,177.1% during 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 during the period. Janus Henderson Group PLC grew its position in shares of American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares during the period. State Street Corp grew its position in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC grew its position in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the period. Finally, Zacks Investment Management bought a new stake in shares of American Electric Power during the 3rd quarter valued at $80,207,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.2 %

Shares of NASDAQ AEP opened at $92.71 on Monday. The firm’s 50-day moving average price is $97.50 and its 200-day moving average price is $96.17. 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 stock has a market capitalization of $49.33 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 2.70 and a beta of 0.55. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

AEP has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, Barclays lowered their target price on shares of 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given 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 target price of $97.13.

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.