Advisors Asset Management Inc. Has $2.20 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Advisors Asset Management Inc. increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.0% during the 3rd quarter, Holdings Channel reports. The fund owned 21,429 shares of the company’s stock after acquiring an additional 2,790 shares during the period. Advisors Asset Management Inc.’s holdings in American Electric Power were worth $2,199,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. grew its position in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares during the last quarter. XML Financial LLC grew its holdings in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after purchasing an additional 106 shares during the last quarter. Garrison Asset Management LLC increased its holdings in shares of American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY increased its stake in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

NASDAQ AEP opened at $97.59 on Monday. The company’s 50 day moving average is $99.11 and its two-hundred day moving average is $95.54. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $51.93 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.83 and a beta of 0.55. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Increases Dividend

The firm 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 dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.81%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Analyst Ratings Changes

Several equities analysts have recently commented on AEP shares. Bank of America upped their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Scotiabank lifted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company dropped their target price on 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. Jefferies Financial Group began coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $98.00.

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.