Charles Schwab Investment Management Inc. Acquires 51,467 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Charles Schwab Investment Management Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,183,200 shares of the company’s stock after acquiring an additional 51,467 shares during the period. Charles Schwab Investment Management Inc.’s holdings in American Electric Power were worth $326,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. E Fund Management Co. Ltd. grew its stake in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC increased its holdings in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 shares during the last quarter. Garrison Asset Management LLC boosted its holdings in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY grew its position in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.5 %

Shares of NASDAQ:AEP opened at $97.59 on Friday. The business’s 50 day moving average is $99.11 and its 200 day moving average is $95.46. The stock has a market cap of $51.93 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AEP shares. 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 report on Friday, October 18th. Morgan Stanley lowered their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price objective 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average price target of $98.00.

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.