Harvest Fund Management Co. Ltd Acquires 13,687 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Harvest Fund Management Co. Ltd lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 85.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 29,637 shares of the company’s stock after buying an additional 13,687 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in American Electric Power were worth $3,040,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AEP. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 buying an additional 341,846 shares during the period. Envestnet Asset Management Inc. lifted its position in American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after acquiring an additional 35,769 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in American Electric Power by 1.6% in the 3rd 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 period. Pathway Financial Advisers LLC increased its holdings in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of American Electric Power by 51.1% in the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after purchasing an additional 623,789 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Trading Down 0.5 %

Shares of AEP stock opened at $97.59 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market cap of $51.93 billion, a PE ratio of 19.56, a P/E/G ratio of 2.83 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The stock’s fifty day moving average price is $99.11 and its two-hundred day moving average price is $95.54.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AEP shares. Wells Fargo & Company decreased their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group assumed 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 for the company. BMO Capital Markets lowered 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 note on Thursday, November 7th. Morgan Stanley reduced 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 note on Friday. Finally, Evercore ISI decreased their price objective on 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. Two equities 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.00.

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.