EP Wealth Advisors LLC Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

EP Wealth Advisors LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.5% during the third quarter, Holdings Channel.com reports. The fund owned 11,057 shares of the company’s stock after acquiring an additional 1,231 shares during the period. EP Wealth Advisors LLC’s holdings in American Electric Power were worth $1,134,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC boosted its position in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares during the last quarter. Janus Henderson Group PLC boosted its position in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after buying an additional 1,962,125 shares during the last quarter. State Street Corp boosted its position in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after buying an additional 1,114,954 shares during the last quarter. FMR LLC boosted its position in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after buying an additional 1,087,163 shares during the last quarter. Finally, Raymond James & Associates boosted its position in American Electric Power by 51.1% in 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. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.5 %

Shares of AEP opened at $95.10 on Wednesday. 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 one year low of $75.22 and a one year high of $105.18. The stock has a market capitalization of $50.60 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.77 and a beta of 0.55. The stock has a 50 day moving average price of $98.13 and a 200 day moving average price of $96.03.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.91%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of recent research reports. Barclays dropped their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. UBS Group boosted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Finally, Evercore ISI decreased their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.20.

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.