Martingale Asset Management L P Buys 105,334 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Martingale Asset Management L P raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1,407.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,820 shares of the company’s stock after purchasing an additional 105,334 shares during the quarter. Martingale Asset Management L P’s holdings in American Electric Power were worth $11,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in shares of American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after acquiring an additional 35,769 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of American Electric Power by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock worth $326,596,000 after acquiring an additional 51,467 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after acquiring an additional 1,963,154 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.0 %

Shares of American Electric Power stock opened at $99.86 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a 50-day moving average of $98.72 and a 200 day moving average of $95.76. The firm has a market cap of $53.14 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year 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. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group assumed 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 for the company. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.