Independent Advisor Alliance Has $5.12 Million Holdings in American Electric Power Company, Inc. $AEP

Independent Advisor Alliance boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 25.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 45,495 shares of the company’s stock after purchasing an additional 9,188 shares during the quarter. Independent Advisor Alliance’s holdings in American Electric Power were worth $5,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. Soroban Capital Partners LP boosted its position in shares of American Electric Power by 176.3% during the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after buying an additional 2,555,415 shares during the last quarter. Amundi raised its position in American Electric Power by 26.1% in the 2nd quarter. Amundi now owns 3,694,659 shares of the company’s stock valued at $381,510,000 after buying an additional 765,258 shares during the last quarter. State Street Corp lifted its stake in American Electric Power by 2.3% during the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after acquiring an additional 653,712 shares in the last quarter. Invesco Ltd. boosted its holdings in American Electric Power by 5.9% during the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after acquiring an additional 432,441 shares during the last quarter. Finally, National Pension Service grew its stake in shares of American Electric Power by 22.8% in the 2nd quarter. National Pension Service now owns 1,894,580 shares of the company’s stock worth $196,582,000 after acquiring an additional 352,198 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AEP shares. Bank of America lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and dropped their price target for the company from $131.00 to $122.00 in a research report on Monday, January 12th. Barclays increased their price objective on shares of American Electric Power from $117.00 to $121.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. LADENBURG THALM/SH SH reduced their target price on American Electric Power from $124.50 to $117.50 and set a “neutral” rating for the company in a report on Friday, January 23rd. Finally, Siebert Williams Shank initiated coverage on American Electric Power in a research report on Thursday, December 18th. They set a “buy” rating and a $137.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus price target of $127.39.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $119.78 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $117.25 and a two-hundred day simple moving average of $115.09. American Electric Power Company, Inc. has a 1-year low of $97.32 and a 1-year high of $124.80. The firm has a market cap of $63.97 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.95 per share. The ex-dividend date is Tuesday, February 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.2%. American Electric Power’s dividend payout ratio is presently 55.39%.

Insider Transactions at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director directly owned 25,898 shares in the company, valued at approximately $2,980,082.86. The trade was a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.