Avestar Capital LLC Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Avestar Capital LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,678 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Avestar Capital LLC’s holdings in American Electric Power were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its stake in shares of American Electric Power by 10,177.1% during 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 period. FMR LLC increased its stake 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 purchasing an additional 1,087,163 shares during the last quarter. Raymond James & Associates lifted its position in American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after buying an additional 623,789 shares during the period. Assenagon Asset Management S.A. boosted its stake in American Electric Power by 1,140.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after buying an additional 419,870 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in American Electric Power by 8,396.3% in the 3rd quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock valued at $361,070,000 after buying an additional 347,776 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ:AEP opened at $99.33 on Wednesday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a market cap of $52.86 billion, a P/E ratio of 19.91, a PEG ratio of 2.82 and a beta of 0.55. The firm has a 50-day moving average of $98.87 and a two-hundred day moving average of $95.64.

American Electric Power Increases Dividend

The company also recently disclosed 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 is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is currently 74.55%.

Analysts Set New Price Targets

Several equities analysts recently commented on AEP shares. Wells Fargo & Company dropped their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. UBS Group increased their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Barclays lowered their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday. Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Evercore ISI decreased their target price 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.93.

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.