DekaBank Deutsche Girozentrale Purchases 1,460 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

DekaBank Deutsche Girozentrale lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,773 shares of the company’s stock after acquiring an additional 1,460 shares during the period. DekaBank Deutsche Girozentrale’s holdings in American Electric Power were worth $13,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its holdings in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at $26,000. LRI Investments LLC acquired a new position in shares of American Electric Power during the 1st quarter valued at $37,000. Briaud Financial Planning Inc lifted its position in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, Friedenthal Financial bought a new position in American Electric Power during the third quarter worth $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.39 on Wednesday. The firm has a market capitalization of $51.82 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The business’s fifty day simple moving average is $100.70 and its 200 day simple moving average is $94.18. American Electric Power Company, Inc. has a 12 month low of $74.37 and a 12 month high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. 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 firm earned $1.13 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is presently 74.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Guggenheim boosted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Scotiabank increased their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets increased their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $98.43.

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.