Mutual of America Capital Management LLC Has $6.72 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Mutual of America Capital Management LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,514 shares of the company’s stock after selling 960 shares during the period. Mutual of America Capital Management LLC’s holdings in American Electric Power were worth $6,722,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AEP. Lazard Asset Management LLC grew its stake in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after buying an additional 776,965 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 purchasing an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of American Electric Power by 1.1% in 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 period. Pathway Financial Advisers LLC lifted 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 worth $203,399,000 after purchasing an additional 1,963,154 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in American Electric Power by 51.1% during the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after purchasing an additional 623,789 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.2 %

Shares of NASDAQ:AEP opened at $96.70 on Wednesday. The company’s fifty day moving average is $99.47 and its 200-day moving average is $95.38. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a market capitalization of $51.46 billion, a PE ratio of 19.38, a P/E/G ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 3.85%. 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 dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company cut their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Barclays raised their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. BMO Capital Markets dropped their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two 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 stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average price target of $98.27.

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.