Rockefeller Capital Management L.P. Has $11.75 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Rockefeller Capital Management L.P. grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% in the third quarter, HoldingsChannel.com reports. The fund owned 114,567 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in American Electric Power were worth $11,753,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after buying an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC increased its stake in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after acquiring an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. raised its position in American Electric Power by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after purchasing an additional 35,769 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in American Electric Power by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock worth $326,596,000 after purchasing an additional 51,467 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted 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 valued at $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Down 1.6 %

NASDAQ AEP opened at $98.22 on Tuesday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $52.26 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The business’s 50-day moving average price is $98.72 and its two-hundred day moving average price is $95.82.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date 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 currently 74.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AEP shares. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Evercore ISI reduced 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, November 7th. Morgan Stanley decreased their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, BMO Capital Markets increased their price objective on shares of American Electric Power from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.20.

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.