New England Asset Management Inc. Buys Shares of 33,180 American Electric Power Company, Inc. (NASDAQ:AEP)

New England Asset Management Inc. bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,180 shares of the company’s stock, valued at approximately $3,404,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AEP. Pathway Financial Advisers LLC boosted its holdings 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 valued at $203,399,000 after acquiring an additional 1,963,154 shares in the last quarter. Zimmer Partners LP raised its position in American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after purchasing an additional 831,235 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of 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 valued at $739,303,000 after purchasing an additional 776,965 shares in the last quarter. Raymond James & Associates boosted its stake 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 purchasing an additional 623,789 shares in 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 worth $40,070,000 after purchasing an additional 419,870 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AEP shares. BMO Capital Markets dropped their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company 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 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Trading Up 0.2 %

NASDAQ AEP opened at $96.49 on Tuesday. The stock has a market capitalization of $51.34 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.78 and a beta of 0.55. The business has a 50 day simple moving average of $99.60 and a 200 day simple moving average of $95.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18.

American Electric Power Increases Dividend

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

American Electric Power 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.