33,180 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by New England Asset Management Inc.

New England Asset Management Inc. purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,180 shares of the company’s stock, valued at approximately $3,404,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in shares of American Electric Power by 10,177.1% in 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 in the last quarter. Zimmer Partners LP raised its holdings in American Electric Power by 578.2% during the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after buying an additional 831,235 shares during the last quarter. Lazard Asset Management LLC raised its holdings in American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares during the last quarter. Raymond James & Associates grew its holdings in shares of American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after buying an additional 623,789 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of American Electric Power by 1,140.5% during the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after buying an additional 419,870 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP opened at $96.49 on Tuesday. The firm has a market cap of $51.34 billion, a P/E ratio of 19.34, a PEG ratio of 2.78 and a beta of 0.55. 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 fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm has a 50-day moving average of $99.60 and a 200 day moving average of $95.32.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AEP shares. 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 report on Thursday, November 7th. 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 note on Thursday, August 29th. Barclays lifted their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Evercore ISI lowered their price target 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, November 7th. Finally, UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.