Austin Asset Management Co Inc Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Austin Asset Management Co Inc purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,182 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Essex Savings Bank grew its stake in shares of American Electric Power by 26.6% in the 3rd quarter. Essex Savings Bank now owns 4,274 shares of the company’s stock valued at $439,000 after purchasing an additional 897 shares during the last quarter. Tompkins Financial Corp grew its position in American Electric Power by 14.5% in the 3rd quarter. Tompkins Financial Corp now owns 1,272 shares of the company’s stock valued at $131,000 after buying an additional 161 shares during the last quarter. Carmel Capital Partners LLC increased its stake in American Electric Power by 8.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,519 shares of the company’s stock valued at $361,000 after buying an additional 262 shares during the period. Verus Financial Partners Inc. purchased a new position in American Electric Power during the 3rd quarter worth $211,000. Finally, Carson Advisory Inc. acquired a new stake in shares of American Electric Power in the 3rd quarter worth $200,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.0 %

Shares of AEP opened at $96.40 on Friday. American Electric Power Company, Inc. has a 1-year low of $74.97 and a 1-year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $100.51 and a 200-day simple moving average of $94.93. The stock has a market cap of $51.30 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.74 and a beta of 0.55.

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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is 70.54%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEP shares. 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 research note on Thursday, August 29th. Scotiabank raised their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets dropped their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays raised their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Profile

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.