American Electric Power Company, Inc. (NASDAQ:AEP) Position Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,617 shares of the company’s stock after purchasing an additional 1,095 shares during the period. Oppenheimer & Co. Inc.’s holdings in American Electric Power were worth $4,578,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mizuho Markets Americas LLC increased its position in American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after purchasing an additional 226,435 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in American Electric Power by 60.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock valued at $4,285,000 after acquiring an additional 18,726 shares in the last quarter. OLD National Bancorp IN lifted its stake in American Electric Power by 14.4% in the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after acquiring an additional 15,138 shares during the last quarter. MainStreet Investment Advisors LLC grew its position in American Electric Power by 13.2% in the second 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of American Electric Power by 1,140.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

NASDAQ:AEP opened at $93.76 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. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a fifty day moving average price of $100.04 and a 200 day moving average price of $95.09. The stock has a market cap of $49.89 billion, a P/E ratio of 18.79, a PEG ratio of 2.65 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently announced 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 3.97%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. Morgan Stanley upped their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Barclays upped their target price on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets dropped 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 research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus 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.