American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,263 shares of the company’s stock after buying an additional 3,231 shares during the quarter. Pacer Advisors Inc.’s holdings in American Electric Power were worth $6,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AEP. OLD National Bancorp IN boosted its holdings in American Electric Power by 14.4% during the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock worth $10,572,000 after buying an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in shares of American Electric Power by 13.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock worth $3,730,000 after acquiring an additional 4,971 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 acquiring an additional 419,870 shares during the period. New England Asset Management Inc. purchased a new position in American Electric Power in the 3rd quarter valued at approximately $3,404,000. Finally, ING Groep NV raised its holdings in American Electric Power by 244.3% during the third quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after purchasing an additional 208,974 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research analyst reports. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Evercore ISI cut their target price on shares of 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. Wells Fargo & Company reduced their price target 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. Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets reduced their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Down 0.5 %

Shares of AEP stock opened at $97.59 on Friday. The firm’s 50-day simple moving average is $99.11 and its 200-day simple moving average is $95.50. 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 1-year low of $75.22 and a 1-year high of $105.18. The firm has a market cap of $51.93 billion, a P/E ratio of 19.56, a PEG ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, November 8th. 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 74.55%.

American Electric Power Company 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.