Brooklyn Investment Group Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Brooklyn Investment Group grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,296 shares of the company’s stock after buying an additional 172 shares during the period. Brooklyn Investment Group’s holdings in American Electric Power were worth $338,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in American Electric Power by 5.4% in the third quarter. D.A. Davidson & CO. now owns 39,132 shares of the company’s stock worth $4,015,000 after acquiring an additional 1,990 shares in the last quarter. FMR LLC lifted its holdings in shares of American Electric Power by 18.8% during the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the period. Bank of Montreal Can lifted its holdings in shares of American Electric Power by 8.9% during the third quarter. Bank of Montreal Can now owns 1,954,844 shares of the company’s stock worth $199,081,000 after purchasing an additional 159,278 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of American Electric Power by 8.3% during the third quarter. Brown Brothers Harriman & Co. now owns 12,603 shares of the company’s stock worth $1,293,000 after purchasing an additional 962 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of American Electric Power during the third quarter worth about $2,533,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Up 1.3 %

Shares of AEP opened at $99.33 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The stock has a market capitalization of $52.86 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.82 and a beta of 0.55. The stock has a 50 day moving average price of $98.87 and a 200 day moving average price of $95.64.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.75%. 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 presently 74.55%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AEP shares. BMO Capital Markets decreased their target price on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. UBS Group boosted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two research 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 data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $97.93.

American Electric Power Company 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.