National Pension Service Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

National Pension Service lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,533,256 shares of the company’s stock after purchasing an additional 152,381 shares during the quarter. National Pension Service owned 0.29% of American Electric Power worth $157,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Citizens National Bank Trust Department raised its position in shares of American Electric Power by 1.1% in the 3rd quarter. Citizens National Bank Trust Department now owns 27,222 shares of the company’s stock worth $2,793,000 after purchasing an additional 300 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in American Electric Power in the 3rd quarter worth about $4,015,000. Angeles Wealth Management LLC purchased a new position in American Electric Power in the 3rd quarter worth about $242,000. Van ECK Associates Corp raised its position in American Electric Power by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 146,090 shares of the company’s stock worth $14,730,000 after buying an additional 9,937 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its position in American Electric Power by 67.0% in the 3rd quarter. Confluence Wealth Services Inc. now owns 5,101 shares of the company’s stock worth $523,000 after buying an additional 2,046 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $98.40 on Tuesday. The stock’s fifty day moving average is $100.67 and its two-hundred day moving average is $94.65. The company has a market capitalization of $52.36 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 52 week low of $74.97 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 70.12%.

Analysts Set New Price Targets

A number of research firms have issued reports on AEP. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Bank of America boosted their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their price objective on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim boosted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Scotiabank boosted their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.43.

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.