Fmr LLC Has $704.55 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Fmr LLC boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,866,952 shares of the company’s stock after purchasing an additional 1,087,163 shares during the quarter. Fmr LLC owned about 1.29% of American Electric Power worth $704,549,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OLD National Bancorp IN boosted its holdings in American Electric Power by 14.4% during the 2nd quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock worth $10,572,000 after acquiring an additional 15,138 shares during the last quarter. MainStreet Investment Advisors LLC boosted its holdings in 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 during the last quarter. Assenagon Asset Management S.A. boosted 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 buying an additional 419,870 shares during the last quarter. New England Asset Management Inc. purchased a new position in shares of American Electric Power in the 3rd quarter worth about $3,404,000. Finally, ING Groep NV boosted its holdings in shares of American Electric Power by 244.3% in the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after buying an additional 208,974 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.6 %

Shares of AEP opened at $99.89 on Friday. The business’s 50-day moving average price is $98.77 and its 200-day moving average price is $95.70. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The stock has a market cap of $53.15 billion, a PE ratio of 20.02, a P/E/G ratio of 2.83 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently declared 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. 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 annualized dividend and a dividend yield of 3.72%. American Electric Power’s dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Bank of America boosted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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, American Electric Power presently has an average 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.