American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Essex Savings Bank

Essex Savings Bank grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 26.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,274 shares of the company’s stock after purchasing an additional 897 shares during the period. Essex Savings Bank’s holdings in American Electric Power were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AEP. Quantbot Technologies LP purchased a new stake in shares of American Electric Power in the first quarter valued at approximately $1,731,000. Empowered Funds LLC grew its position in shares of American Electric Power by 47.6% in the first quarter. Empowered Funds LLC now owns 33,687 shares of the company’s stock valued at $2,900,000 after purchasing an additional 10,868 shares in the last quarter. PFG Advisors grew its position in shares of American Electric Power by 5.1% in the first quarter. PFG Advisors now owns 5,125 shares of the company’s stock valued at $441,000 after purchasing an additional 250 shares in the last quarter. Forsta AP Fonden grew its position in American Electric Power by 6.7% in the first quarter. Forsta AP Fonden now owns 102,300 shares of the company’s stock worth $8,808,000 after acquiring an additional 6,400 shares during the period. Finally, TCI Wealth Advisors Inc. purchased a new position in American Electric Power in the first quarter worth approximately $213,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.0 %

Shares of NASDAQ AEP opened at $96.40 on Friday. The stock has a market cap of $51.30 billion, a P/E ratio of 19.32, a PEG ratio of 2.74 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47. The business’s fifty day simple moving average is $100.51 and its 200-day simple moving average is $94.93. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. This is an increase 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 dividend payout ratio is 70.54%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America increased 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. Scotiabank increased their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.27.

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.