King Luther Capital Management Corp Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

King Luther Capital Management Corp grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,924 shares of the company’s stock after purchasing an additional 669 shares during the period. King Luther Capital Management Corp’s holdings in American Electric Power were worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AEP. HHM Wealth Advisors LLC increased 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 buying an additional 103 shares during the period. E Fund Management Co. Ltd. increased its position in shares of 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 worth $464,000 after acquiring an additional 105 shares during the period. XML Financial LLC increased its position in shares of American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after acquiring an additional 106 shares during the period. Garrison Asset Management LLC boosted its holdings in shares of American Electric Power by 0.6% in the third 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 period. Finally, Roanoke Asset Management Corp NY grew its stake in American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AEP has been the subject of several research reports. Scotiabank upped their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Evercore ISI dropped their price objective 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. Finally, BMO Capital Markets reduced their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Trading 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 $95.50. 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 1 year low of $75.22 and a 1 year high of $105.18. The firm has a market capitalization of $51.93 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.83 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This is a positive change 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 dividend payout ratio (DPR) is presently 74.55%.

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.