DRW Securities LLC Takes $2.53 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

DRW Securities LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,690 shares of the company’s stock, valued at approximately $2,533,000.

A number of other hedge funds also recently bought and sold shares of AEP. Harvest Fund Management Co. Ltd raised its stake in shares of American Electric Power by 85.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 29,637 shares of the company’s stock worth $3,040,000 after buying an additional 13,687 shares during the period. Dynamic Technology Lab Private Ltd raised its position in American Electric Power by 274.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 31,566 shares of the company’s stock worth $3,239,000 after acquiring an additional 23,142 shares during the period. Daiwa Securities Group Inc. lifted its holdings in American Electric Power by 2.2% during the third quarter. Daiwa Securities Group Inc. now owns 155,589 shares of the company’s stock valued at $15,963,000 after purchasing an additional 3,331 shares in the last quarter. Marco Investment Management LLC acquired a new stake in shares of American Electric Power in the third quarter valued at about $219,000. Finally, Hartford Funds Management Co LLC increased its stake in shares of American Electric Power by 22.3% during the third quarter. Hartford Funds Management Co LLC now owns 14,327 shares of the company’s stock worth $1,470,000 after purchasing an additional 2,617 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley reduced their target price 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. BMO Capital Markets decreased 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. Wells Fargo & Company dropped their price objective 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. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. 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 company currently has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.59 on Monday. The stock has a market capitalization of $51.93 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The business has a 50-day moving average of $99.11 and a 200 day moving average of $95.54. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Increases Dividend

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