American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,090 shares of the company’s stock after acquiring an additional 9,937 shares during the period. Van ECK Associates Corp’s holdings in American Electric Power were worth $14,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC raised its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc boosted 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 last quarter. Naples Money Management LLC purchased a new stake in shares of American Electric Power in the second quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in American Electric Power during the second quarter worth about $48,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

American Electric Power stock opened at $100.40 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 52-week low of $74.97 and a 52-week high of $105.18. The firm has a market cap of $53.42 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The company’s 50 day moving average is $100.67 and its two-hundred day moving average is $94.65.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.71%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 70.12%.

Analyst Ratings Changes

Several research firms have weighed in on AEP. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets upped their price objective on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price target on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.43.

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.